Deal expected to close in Q1-2020
Unifeeder, a 100% owned subsidiary of DP World, has announced the acquisition of a 77% stake in the Feedertech Group.
The deal, which is expected to close in Q1-2020, is the latest step in DP World’s vision to build end-to-end logistics capability to serve the needs of shipping lines and cargo owners.
The acquisition of Feedertech will expand the company’s feedering and short-sea product offering to multiple geographies.
Established in 2003 and based in Singapore, Feedertech operates two businesses—Feedertech, an independent feedering service, and Perma, a regional shortsea network.
Acquired by DP World in 2018, Unifeeder, is an integrated logistics company with the largest and best-connected feeder and growing shortsea network in Northern Europe with connectivity to approximately 100 ports.
Through Feedertech and Perma, Unifeeder will have the capability to offer feedering and regional shortsea connectivity in Northern Europe, the Mediterranean, North Africa and now Asia and the Indian Subcontinent. DP World aims to preserve the common-user independent platform, while increasing efficiency to offer a more complete logistics solution to all its customers.
DP World’s strategic objective was to create additional value by using Unifeeder’s management expertise to replicate the asset-light model in other regions. The Feedertech Group transaction is the first stage of this ongoing value creation process.
“The acquisition of a stake in the Feedertech Group is another strategic step in our vision to build an end-to-end logistics capability and offer an integrated service suite,” remarked Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.
“Feedertech’s transaction with Unifeeder with the support of DP World, will allow us to take the business to the next stage of its growth,” commented Ali Maghami, Founder and Chairman, Feedertech.
