AP Moller Capital Invests in Spanish and Latin American Logistics Company
A.P. Moller Holding, an investment company and the parent company of the A.P. Moller Group, is investing in growing logistics operations in Spain and Latin America. It has signed a binding agreement to acquire 51 percent of Berge, the port and infrastructure company of Berge y Compañía, a diversified holding company based in Spain. The companies have agreed to capitalize Berge to invest in new opportunities in the coming years and allow expansion of the port activities both in Iberia and Latin America.
The Spanish parent company, which traces its origins to 1870, is a diversified company with operations in logistics and mobility. Through Berge, it reports a presence in 26 ports in Spain as well as operations in France at Bayonne. It handles more than 30 million tons of goods, 7.5 million agri-food products per year and is the leading company in consignments with almost 10,000 ships per year. It manages 150,000 tons in sea freight, 10,000 TEUs, and 80,000 kg in air cargo, as well as 800 port calls for regular lines, and manages more than 1 million vehicles in its port terminals.
During the signing, Jaime Gorbeña, president of Bergé y Compañía, said that “beyond the figures, I would like to highlight that AP Moller Capital and Berge share values, a long tradition in logistics and transport, but also a vision of the future of where the sector is going, where innovation, sustainability and international expansion are the fundamental axes.”
The companies highlighted that the partnership between AP Moller Capital and Bergé y Compañía will allow Berge to accelerate its organic and inorganic growth plans with the help of a strong partner such as AP Moller Capital. In this way, they reported Berge will continue to grow in the multipurpose port sector in Iberia and Latin America and will benefit from the combined industrial and financial experience of both shareholders.
Joe Nielsen, chief financial officer of AP Moller Capital will become the non-executive chairman of the company after the investment. He noted, “Bergé y Compañía and Berge have a unique history, experience, and relationships with clients and stakeholders throughout the value chain of port and logistics infrastructure in Iberia and Latin America. Furthermore, AP Moller Capital and Bergé y Compañía share the same vision to make Berge a leading company in port infrastructure in Iberia and Latin America.”
The transaction is subject to approval by competition authorities and other relevant authorities. It is the latest in a series of investments and consolidation in the logistics sector as companies look to expand their operations in what historically has been a fragmented market.