Netherlands-based APM Terminals has agreed to acquire the majority stake in Spain-based container-terminal operator Grup Maritim for an undisclosed sum.
Grup Maritim operates Spanish container terminal concessions in Barcelona, Valencia and Castellon, on the Mediterranean coast, as well as in Gijon, on the Bay of Biscay, and in the Canary Islands.
The company also has terminal operations in Izmir, Turkey; Yucatan, Mexico; Buenaventura, Colombia; and Paranagua, Brazil.
Its terminals have annual throughput capacity of 4.3 million TEUs, and an estimated annual container volume of 3.5 million TEUs.
The acquisition will increase APM Terminals’ number of operating facilities to 74 in 40 countries across five continents.
APM Terminals CEO Kim Fejfer said: "This is an exciting investment for APM Terminals, which adds complementary locations to our portfolio in high growth markets throughout Latin America, in Turkey and a strong gateway presence in Spain.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
"Equally important, Grup Maritim TCB is one of the best run terminal businesses in the market with a history dating back to 1972, when it was first established by the Perez-Maura family in Barcelona."
Subject to certain conditions and approvals, the transaction is expected to conclude by December this year.
Grup Maritim CEO Xavier Soucheiron said: "We share the same core values and views on how to build on our market momentum, where to invest in port upgrades and improve the entire TCB portfolio for clients.
"Together we can achieve even more potential in the APM Terminals family."
Image: Grup Maritim’s container terminal in Barcelona. Photo: courtesy of APM Terminals.