Wallenius Wilhelmsen Acquires Remaining Shares in Armacup

[By: Wallenius Wilhelmsen]

Wallenius Wilhelmsen acquires the remaining shares in Armacup, bringing the shareholding percentage from 65 percent to 100 percent. The transaction was closed on April 30, 2025.

As previously communicated, the amended shareholder agreement that was entered into in 2022 stated that Wallenius Wilhelmsen was to buy the remaining shares. It is this process that has now been finalized.

“This acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup. It is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia,” says Xavier Leroi, Chairman of the Board at Armacup and COO Shipping Services at Wallenius Wilhelmsen. 

Existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, agencies in China and Australia, and a shared customer base.  

Armacup is a New Zealand-headquartered shipping company that has pioneered the Japanese used car trade since the 1980s.

Armacup has since then expanded its position in the Asia-Oceania trade, servicing leading and emerging OEMs in all three main export markets; Japan, China and South Korea.

The integration of processes has commenced, and the aim is to simplify and enhance the offerings for our customers with a streamlined approach. 

The transaction was closed on April 30, 2025.