Dubai: The DP World-owned Imperial can now raise its ownership in J&J Group to 100 per cent as the Dubai operator expands its interests across Africa. Apart from ports and terminals, DP World is building a base that includes free zones and extensive ecommerce interest.
Imperial, headquartered in South Africa, has closed the deal whereby it owns 51 per cent in J&J, and will be followed by a further two tranches of 46.5 per cent and 2.5 per cent. J&J Group offers end-to-end logistics solutions along the Beira and North-South corridors in Southeast Africa. It specialises in break-bulk, containerised, project, fuel and out-of-gauge cargo between Mozambique, Zimbabwe, Zambia, South Africa, Malawi and the Democratic Republic of the Congo.
“This acquisition strengthens DP World’s position in Africa as an end-to-end logistics provider, by adding J&J’s significant presence along these key corridors in Africa – a market where trade is expected to grow at more than twice GDP driven by population growth, accelerated urbanisation and rising middle-classes,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
Through the acquisition, Imperial is positioning for ‘quicker go-to-market outside of South Africa’. “This acquisition complements our ‘Gateway to Africa’ focus as it optimises and expands our reach in Africa,” said Mohammed Akoojee, Chief Operating Officer of DP World Logistics and Group CEO at Imperial. “This is possible through well-established routes, port capabilities, a well-developed asset base, including a fleet and warehousing space, as well as an entrenched customer portfolio.”
Carlyle and Ethos Private Equity are currently the controlling shareholders in J&J Group.