- Imperial Logistics under DP World has obtained approval to fully acquire 100% of Mozambique’s largest logistic operator, J&J Group
- The first transaction relating to the acquisition of 51% of the shares was issued on July 2021 and closed on July 18, 2022
- However, this will be followed by acquisitions of the remaining 46.5& and 2.5%
Mozambique- Imperial Logistics which is owned by DP World has gotten approval to acquire 100% of the J&J Group, the biggest integrated logistics operator on Mozambique’s Beira Corridor.
The transaction relating to the acquisition of the first tranche of shares,51%, of the J&J Group, which was announced on July 29 last year, was closed on July 18, 2022.
This will now be followed by the acquisitions of the second and third tranches of 46.5% and 2.5%, respectively.
The logistics operator offers end-to-end logistics solutions along the Beira and North-South (Africa) corridors, specialising in the transport of break-bulk, containerised, project, fuel and out-of-gauge cargo between Mozambique, Zimbabwe, South Africa, Zambia, South Africa, Malawi and the Democratic Republic of the Congo.
“This acquisition strengthens DP World’s position as an end-to-end logistics provider by adding J&J’s significant presence along these key corridors in Africa – a market where trade is expected to grow at more than twice gross domestic product, driven by population growth, accelerated urbanisation and a rising middle class,” said DP World Group chairperson and CEO Sultan Ahmed Bin Sulayem.
Through the acquisition of the J7J Group, Imperial will now be positioned for quicker go-to-market speed outside of South Africa, and end-to-end access to certain key countries and corridors (port-to-customer) in Africa.
“This acquisition complements our Gateway-to-Africa focus as it optimises and expands our reach in Africa by providing scale in end-to-end cross-border transportation services in key countries and new industries,” said Imperial Group CEO and DP World Logistics COO Mohammed Akoojee.
DP World has been steadily growing its business in Africa. The company currently operates nine ports and terminals across eight countries in Africa, namely; Algeria, Angola, Egypt, Mozambique, Rwanda, Senegal, Somaliland and South Africa.
“We are excited for J&J to partner with Imperial and believe that the operations of these two businesses are very complementary. This combination offers existing and potential J&J clients a true gateway to Africa,” noted Carlyle and Ethos Private Equity, currently the controlling shareholders of the J&J Group.
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