DP World-controlled Unifeeder Group has confirmed it is buying Transworld Feeders FZCO, Avana Logistek , including its subsidiary Avana Global FZCO, and Transworld Feeders, the containerised Indian coastal and EXIM feeder shipping operations of Shreyas Shipping and Logistics, excluding vessels and bulk operations.
Established in 1982, Transworld Feeders and Avana Global are feeder and NVOCC operators, offering container feedering 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.
Combined, the companies handle approximately 1.2m teu annually.
The acquisition gives rapidly growing Unifeeder, which DP World brought two years ago, a strong presence towards the west of the Indian Subcontinent, complementing its recent acquisition of Singapore-based Feedertech and Perma Shipping.
“We are excited to be united with a company that shares our values. Transworld Group’s asset-light business model and continuous goal to be the preferred business partner for logistics solutions is in perfect line with the Unifeeder way of working,” said Jesper Kristensen, CEO of Unifeeder Group.
Sultan Ahmed Bin Sulayem, CEO of DP World, 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.”
The deal is expected to be completed by the end of this year.
Source:- Splash 24/7