Baleària Completes Canary Islands Acquisition from Armas Trasmediterránea
Baleària, Spain’s leading maritime passenger and freight transport company, has completed the first phase of the planned acquisition of Armas Trasmediterránea, taking control of the assets in the Canary Islands. It includes both inter-island routes and connections between the mainland and the island and, according to the company, consolidates Baleària’s position as Spain’s leading operator of scheduled maritime transport while also establishing it as one of Europe’s leading ferry operators, in terms of both scale and quality.
The agreement for this acquisition was announced last August, with the company now taking control of the Canary Island assets. The procedures relating to the operations for the Strait of Gibraltar and Alboran Sea are yet to be finalized. The company said the deal would include the management of 15 ships, while other portions of the operations were being sold to DFDS.
This acquisition marks the integration of three historic Spanish shipping companies: Trasmediterránea (founded in 1916), Armas (in 1941), and Baleària (in 1998). The resulting group will have around 4,500 employees and a fleet of over 50 vessels. The combined annual traffic volume will exceed 8 million passengers and 11 million linear meters of cargo, generating a consolidated turnover of over €1 billion (nearly $1.2 billion at current exchange rates).
"The new Baleària is ready to ensure the efficiency of the entire national maritime transport network across all its regions," said Adolfo Utorm, president of Baleària. “We are talking about a key infrastructure for territorial cohesion with the Canary and Balearic archipelagos, and with the autonomous cities of Ceuta and Melilla, as well as a vital link for political and commercial relations with Morocco and Algeria."
As part of this integration, the company has launched the Baleària Canarias brand, through which it will operate in the Canary Islands. During the transitional period, this new brand will coexist with that of Armas Trasmediterránea.
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Baleària has also committed to investing €45 million ($52 million) over the next three years in the Canary Islands to enhance the quality, digitalization, and comfort of the fleet it has acquired. The company has also guaranteed that the entire existing workforce will be retained.
It is a significant consolidation of ferry operations in Spain and its territories. Baleària called it a strategic deal that would increase its competitiveness against the multinational ferry companies.