DP World Extends Services to Europe with Unifeeder Acquisition
To expand its presence in Europe, Dubai port operator DP World acquired Danish logistics company Unifeeder from Nordic Capital Fund VIII and certain minority shareholders for $765 million. The aim is for DP World to boost its presence in the global supply chain and broaden its product offering to shipping firms and cargo operators, according to a stock exchange statement. Based in Denmark, Unifeeder operates a container feeder and short sea shipping network in Europe, with connectivity to approximately 100 ports—serving both deep-sea container hubs and the intra-Europe container freight market. The company, which was founded in 1977, reported revenues of $591 million in 2017.
The deal to acquire Unifeeder, whichwill be financed from DP World's existing balance sheet, is still subject to regulatory approvals and is expected to close in the final quarter of 2018.
Globally, DP World operates 78 marine and inland terminals, with activities including container handling, cargo, and fleet and logistics services.