DP World-owned Imperial is ready to acquire J&J Group, the largest integrated logistics operator on Mozambique’s Beira corridor.
Imperial said that all requirements relating to the 100% acquisition of the J&J Group have now been fulfilled.
The transaction regarding the acquisition of the first tranche of shares (51%) of the J&J Group closed on 18 July 2022. This will be followed by the acquisitions of the second and third tranches of 46.5% and 2.5%, respectively.
J&J Group offers integrated logistics solutions along the Beira and North-South corridors in South-East Africa, specialising in the transport of break-bulk, containerised, project, fuel and out-of-gauge cargo between Mozambique, Zimbabwe, Zambia, South Africa, Malawi and the Democratic Republic of the Congo.
“This acquisition strengthens DP World’s position in Africa 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 GDP driven by population growth, accelerated urbanisation and rising middle classes,” said Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
“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. This is possible through well-established routes, port capabilities, a well-developed asset base, including a fleet and warehousing space, as well as an entrenched customer portfolio,” said Mohammed Akoojee, chief operating officer of DP World Logistics and CEO of Imperial.
DP World said that through the acquisition of the J&J Group, Imperial will be positioned for “quicker go-to-market outside of South Africa and end-to-end access to certain key countries and corridors in 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,” stated Carlyle and Ethos Private Equity, currently the controlling shareholder of the J&J Group.
