September 08, 2015: APM Terminals is to acquire a majority stake in the Barcelona-based Grup Maritim TCB and its container terminal portfolio in Europe and Latin America.
The transaction is expected to close by the end of the year and is subject to relevant approvals. Terms and price were not disclosed.
Grup Maritim TCB has 11 container terminals with an annual throughput capacity of 4.3 million TEUs and an estimated annual container volume of 3.5 million TEUs.
The company operates concessions in Barcelona, Valencia and Castellon on Spain's Mediterranean coast; Gijon, on the Bay of Biscay; and Santa Cruz on Tenerife and La Palma on Gran Canaria.
Outside of Spain, Grup Maritim TCB's terminal operations include Izmir, Turkey; Yucatan, Mexico; Quetzal, Guatemala (under construction with an opening in 2016); Buenaventura, Colombia, on the Pacific Coast; and Paranagua, Brazil.
Company CEO Xavier Soucheiron said: "This agreement with APM Terminals marks a landmark moment in the Grup Maritim TCB journey. We share the same core values and views on how to build on our market momentum, where to invest in port upgrades and improve the entire TCB portfolio for clients. Together we can achieve even more potential in the APM Terminals family."
APM Terminals CEO Kim Fejfer added: "Grup Maritim TCB is one of the best run terminal businesses in the market with a history dating back to 1972, when it was first established by the Perez-Maura family in Barcelona. The company has earned a reputation for excellent service and professional people. Being a family company with these attributes makes a combination with APM Terminals a natural fit."
This latest acquisition increases APM Terminals Global Terminal Network to 74 in 40 countries across five continents.