DP World acquires three units of Transworld group
Global marine terminal operator DP World said on Wednesday that its subsidiary, Unifeeder, acquired three business units of Transworld Group, promoted by Indian businessman Ramesh Ramakrishnan.
The three units include 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.
DP World did not disclose the value of the transaction.
The transaction, made via Unifeeder, through its Unifeeder ISC (Indian Subcontinent) platform, a majority-owned subsidiary of DP World, is subject to regulatory approvals, the Dubai-based global ports operator said in a statement.
Sultan Ahmed bin Sulayem, group chairman and CEO, DP World, said these bolt-on acquisitions give the group complete coverage in fast-growing markets between East Africa, the Gulf, and the wider Indian Subcontinent.
"Transworld Feeders and Avana are both strong and well-known brands that handle approximately 1.2mn TEU per annum and operate in fast-growing markets. Our Unifeeder ISC (Indian Subcontinent) platform will continue to operate an asset-light, independent common-user platform, as we continue to build the Unifeeder brand, which is best known for efficient connectivity, flexibility, and reliability," said Sulayem.
"These acquisitions further strengthen our logistics solution-based capabilities, as we can combine our significant network of ports and market-leading inland logistics offering to deliver compelling supply chain solutions to all our customers. DP World and Transworld group have enjoyed a fruitful partnership over the years, and we are excited to partner with them as we build out our vision to become a global supply chain solutions provider. We will continue to build on our strategic vision to connect directly with end-customers and beneficial cargo owners by delivering end-to-end solutions that remove inefficiencies in the supply chain and accelerate trade growth to deliver value for our stakeholders," said Sulayem.
Ramesh Ramakrishnan, chairman of Transworld Group and Shreyas Shipping and Logistics Limited, said his group's strength lies in its strong customer relationships, local expertise and network across the Indian sub-continent, which have allowed us to deliver an efficient product to the market. "The acquisition of three of our portfolio companies will provide DP World and Unifeeder ISC a robust platform to jointly deliver a more complete range of solutions to our customers."
The global ports operator said Transworld Feeders and Avana Logistek Limited maintain a comprehensive coverage of all main ports, terminals and inland destinations in India. Avana Logistek Limited also provides first mile and last-mile delivery solutions within the Indian domestic market.
"Both are market leaders in providing logistic solutions to cargo owners, traders, forwarders, and shipping lines. Further, they will both complement and expand the ability to offer a broader range of India-focused solutions. These new entities will continue to operate an asset-light structure as per the Unifeeder model, which delivers greater flexibility and efficiency for customers," the statement said.
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