The Norwegian carrier shipping company Wallenius Wilhelmsen has acquired the remaining shares in the New Zealand shipping company Armacup, increasing its shareholding from 65% to 100%.
The shipping company has thus completed the full takeover of Armacup – as provided for in the amended shareholder agreement of 2022.
“This acquisition will further strengthen the synergies between Wallenius Wilhelmsen and Armacup,” says Xavier Leroi, CEO of Armacup and COO Shipping Services at Wallenius Wilhelmsen. This is a strategic move that also offers growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and existing investments in integrated logistics offerings in Australia.
Integration of processes already underway
Armacup is a New Zealand-based shipping company that has pioneered the Japanese used car trade since the 1980s. Since then, the company has expanded its position in the Asia-Oceania trade, serving leading and emerging OEMs in all three major export markets – Japan, China and South Korea.
Existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, representation in China and Australia and a common customer base. The integration of processes has already begun and the aim is to simplify and improve offerings for customers with a streamlined approach.
