Cash-rich German global carrier Hapag-Lloyd is buying a 49% stake in Italian logistics group Spinelli Group. The Spinelli family will continue to hold a majority of 51% of shares at the close of the transaction, which is expected in the coming months.
No financial details have been disclosed. The completion of the transaction is subject to the approval of the responsible antitrust authorities, which is expected to take place in the coming months.
Since 1963, Spinelli has provided a wide range of logistics services in Italy, with a presence in most ports and intermodal centers in the country.
For Hapag-Lloyd, which is on track to record a record annual profit of around 18 billion euros ($17.9 billion) this year, the Italian logistics decision is similar to that of many companies. Other industry players, such as Maersk, MSC, and CMA CGM, all turned to other logistics infrastructure acquisitions rather than just vessel-related investments in the race for incredible returns on container shipping.
“It is interesting to see that Hapag is also evolving into an integrator. So far, Hapag has focused more on horizontal acquisitions, i.e., mainly on shipping lines like UASC and NileDutch, “commented Christopher Scheithe, host of PlanetLogistics.
About Hapag-Lloyd With a fleet of 253 modern container ships and a total transport capacity of 1.8 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The Company has around 14,300 employees and more than 400 offices in 137 countries. Hapag-Lloyd has a container capacity of 3.0 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 126 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.
About Spinelli Group
Operating in Italy since 1963, the Spinelli Group is a leading logistics provider. The Group offers services throughout the entire logistics chain of containers to the shipping lines including port terminal services, multimodal transport solutions, container depots and repairs, warehouses, and customs agent activities. The Spinelli Group competitive advantage is based on the power of its network and on the capability to efficiently connect the customers to the main Italian ports.