Port of Auckland has announced it has sold its Nexus Logistics subsidiary to Australian supply chain operator Qube Holdings.
The deal allows the port to focus on its core activities – to continue delivering value for Auckland.
“This sale occurs at the right time for both the Port of Auckland and Nexus, with the team led by Darcy Hart, delivering strong momentum, commercial results and customer centric solutions,” Port of Auckland CEO Roger Gray says.
“With Qube taking ownership, their capability, reach and scale will help propel Nexus to the next level.
“To ensure continuity and long-term value for our stakeholders, the port have agreed a long-term strategic partnership with Nexus under Qube’s ownership as part of the sale.”
Qube director of logistics and infrastructure John Digney says since acquiring ISO Limited in 2017, and alongside the acquisition of the Pinnacle Group (which includes Metrobox and the Specialised Group of Companies) in 2023, Qube has established itself as a proudly trans-Tasman business that employs more than 1,500 people across New Zealand.
“The acquisition of Nexus further enhances Qube’s NZ portfolio and will support the expansion of Qube’s container logistics offering in Auckland, supported by a long-term lease at the South Auckland Freight Hub,” he says.
“We’re delighted to welcome the Nexus team to Qube and look forward to working with them and the Port of Auckland to continue delivering excellent customer service.”
The terms of sale include the Nexus business, brand, the operating plant and equipment. The port retains ownership of the site at Wiri – which will be leased back to Nexus Logistics on a long-term lease.