DP World Australia, a branch of the global logistics company DP World, has announced that it will acquire 100% of Silk Logistics Holdings Limited through a formal agreement known as a Scheme of Arrangement. The deal offers A$2.14 for each share of Silk Logistics, valuing the entire company at about A$174.5 million.
This acquisition is pending approval from Silk Logistics’ shareholders and is also subject to typical regulatory conditions. The completion of the deal is anticipated in the first half of 2025.
Silk Logistics provides a full range of port-to-door logistics services, operating 21 logistics hubs and 25 warehousing sites across five states in Australia. The company partners with leading global brands to offer efficient and cost-effective logistics solutions to a nationwide customer base.
Silk Logistics operates in two main areas:
- Port Logistics: This includes efficient transportation services between major ports in Australia.
- Contract Logistics: This involves warehousing and transportation solutions that cater to complex supply chain needs.
DP World Australia is part of DP World, which plays a significant role in the global logistics industry, handling about 10% of the world’s containerized cargo. The company runs four container terminals and three container parks located in Brisbane, Sydney, Melbourne, and Fremantle, in addition to managing inland distribution centers and warehouses.
Sultan Ahmed bin Sulayem, the Group Chairman and CEO of DP World, commented that this acquisition is a key step in enhancing their logistics capabilities and service offerings. He emphasized DP World’s aim to provide tailored logistics solutions that deliver lasting value for everyone involved.
Glen Hilton, CEO & Managing Director for Asia Pacific at DP World, expressed excitement about Silk Logistics joining their team. He noted that this acquisition fits well with their strategy to offer additional logistics solutions to a broad range of customers throughout the Oceania region, enhancing their ability to serve customers effectively.
