DP World’s Unifeeder buys three Transworld Group businesses
Denmark-based shortsea operator Unifeeder A/S, part of Dubai-based port and terminal operator DP World, has unveiled the acquisition of three businesses of Transworld Group.
The deal, subject to regulatory approvals, is expected to close in 2020.
As informed, Unifeeder, through its Unifeeder ISC platform, will acquire Transworld Feeders FZCO, Avana Logistek Limited — including its subsidiary Avana Global FZCO –, and Transworld Feeders Pvt. Ltd. — the containerized Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics Ltd., excluding vessels and bulk operations.
Established in 1982, Transworld Feeders and Avana Global are independent feeder and Non-Vessel Operating Common Carriers (NVOCC) operators, offering container feeder services and regional trade solutions connecting a wide range of ports in the Middle East, Indian Subcontinent and Far East with a number of central hub ports in the region, including the central hub port of Jebel Ali (UAE). Combined, the companies handle approximately 1.2 million TEU annually. Avana Logistek and Avana Global cover 60 ports, whereas Transworld Feeders and Shreyas Shipping and Logistics cover 53 ports.
“The acquisition of three of our portfolio companies will provide Unifeeder ISC with a robust platform to jointly deliver a more complete range of solutions to our customers,” Ramesh S Ramakrishnan, Chairman of the Transworld Group, commented.
Through Transworld Feeders and Avana Global, Unifeeder now has a strong presence towards the west of the Indian subcontinent. The purchase complements the company’s recent acquisition of Feedertech and Perma Shipping, which especially have a strong market position in the trades towards the east.
Through Shreyas Shipping and Avana Logistek, Unifeeder now has the ability to offer a broader range of Indian based door-to-door solutions, according to the company.
“We are excited to be united with a company that shares our values… with this expansion, we will increase the logistics capabilities of both groups, which delivers greater flexibility and efficiency for our customers,” Jesper Kristensen, CEO of Unifeeder Group, said.
“We are delighted to announce these bolt-on acquisitions which give us complete coverage in fast-growing markets between East Africa, Gulf, and the wider Indian Subcontinent,” Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said in a separate statement.
“These new activities are in line with our strategy and complement our recent acquisitions of Feedertech and Perma Shipping. We now have the capability to offer superior connectivity between Asia, the Indian Subcontinent, the Middle East, and East Africa, and this greater scale and comprehensive network presence will allow us to reduce inefficiencies in the supply chains to the benefit of all our customers,” he concluded.