|DFDS buys FRS Iberia/Maroc
Danish logistics and ferry company, DFDS has agreed to acquire FRS Iberia/Maroc, a division of the German short-sea ferry company FRS GmbH & Co. KG.
FRS Iberia/Maroc operates three shortsea ferry routes across the Strait of Gibraltar connecting Spain and Morocco.
“We are excited to expand our network to one of Europe’s significant ferry markets that we expect will continue to show high growth underpinned by the ongoing near shoring of supply chains to Europe,” said Torben Carlsen, DFDS CEO.
“This is a great opportunity to scale DFDS’ business model. We will apply our capabilities and experience, not least from the Channel shortsea market, to further develop the Strait of Gibraltar ferry infrastructure while supporting regional tourism and trade,” added Mathieu Girardin, Head of DFDS’ Ferry Division and Executive Vice President.
“FRS Iberia/Maroc has achieved great success for more than two decades. We are pleased to have found a partner in DFDS who will run the company in a proven manner to ensure its continued growth and take good care of our employees,” commented Götz Becker, FRS Group CEO.
Following the devastating earthquake in Morocco, the FRS Group has offered Moroccan authorities assistance with the transport of emergency supplies, medicine, and other emergency relief equipment.
DFDS said that it commended and fully supported these efforts, while through diplomatic representatives, will explore possibilities for providing further assistance.
The acquisition is aligned with DFDS’ strategy to develop and expand the transport network focused on moving goods in trailers by ferry, road & rail, as well as moving passengers.
It will expand DFDS’ Mediterranean route network that currently connects Europe with Türkey and Tunisia, respectively.
The region’s organic market growth is expected to continue to exceed growth levels in northern Europe underpinned by near shoring of manufacturing supply chains closer to end markets in Europe.
Integrating FRS Iberia/Maroc is expected to bring operating benefits, including tonnage allocation and benefits from application of business model insights from existing freight ferry routes and the combined freight and passenger Channel shortsea routes, DFDS said.
FRS Iberia/Maroc will contribute to both the freight ferry and passenger segments in the Ferry Division.