Norwegian shipping and logistics company Wallenius Wilhelmsen has acquired the remaining shares in New Zealand-based shipping company Armacup, bringing the shareholding percentage from 65 percent to 100 percent.
The company entered into an amended shareholder agreement in 2022 which stated that Wallenius Wilhelmsen was to buy the remaining shares. The transaction was closed on April 30, 2025.
“This acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup,” Wallenius Wilhelmsen COO shipping services Xavier Leroi says.
“It is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia.”
Existing synergies between Armacup and Wallenius Wilhelmsen include a shared pool of vessels, agencies in China and Australia, and a shared customer base.
In a separate announcement, Wallenius Wilhelmsen announced that the ownership of Melbourne International RoRo & Auto Terminal (MIRRAT) was transferred to Australian Amalgamated Terminals, a wholly owned subsidiary of Qube Holdings Limited.
The Australian Competition and Consumer Commission (ACCC) approved the transaction last month.
Almost a year ago, the Norwegian company agreed to sell MIRRAT for A$332.5 million and following the transaction, Wallenius Wilhelmsen will continue to utilise the terminal.
Read more ATN:
Centurion and Uniforms 4 Kids: Cross-country collaboration
Volvo Group lauded for ‘smart transport’
2024 Women in Industry winner reflects on achievements