Samskip Logistics adds to reefer portfolio through Rimar acquisition
Samskip is to expand its global refrigerated foods transportation interests once more, announcing plans for Samskip Logistics USA to acquire the activities of New Jersey-based freight forwarder Rimar Consultants Inc.
Rimar Consultants is responsible for container business equivalent to between 10,000-12,000 TEU per year, and has developed a loyal customer base over a 35-year company history, largely focused on US seafood and meat exports. Subject to agreement with current owner Richie Maddalena, the acquisition is expected to bring three experienced Rimar consultants under the direct employment of Samskip.
“The purchase is strongly aligned with our continuing strategy to build reefer business,” said Ásbjörn Gíslason, CEO of Samskip Logistics. “The merger of Rimar's activities into Samskip Logistics USA will bring indirect cost savings, better procurement, and scale economies. Rimar has strong relations with key carriers, truckers and trans-load vendors, and this will strengthen procurement and benefit Samskip Logistics network volumes.
“Timing for a deal is also favourable, given a strong outlook in this market for 2017. Integrating processes will be straightforward because the operational and documentation approaches are similar.”
Relations between Samskip and Rimar extend back over a 20-year period, and established relationships between Rimar clients and Samskip Logistics suggest that the merger is unlikely to prove disruptive. Merging the two businesses would also bring significant opportunities for growth and spin-off activities, Mr Gíslason said. “Rimar's strengths have been focused on growing its FCL by sea business, but the same customers are very active in imports, cross-trading, storage and Air transport. opportunities. Their strong relations in Asia, South America and Europe, when combine with Samskip's network and expertise creates new opportunities for all parties in some of the world's key trade lanes.”
Rimar staff will transfer to the Samskip New Jersey office. With a presence on the US market since 1994, Samskip Logistics opened new headquarters in Brunswick, New Jersey last year, trailing plans to open further US offices later.
Samskip has been strongly acquisitive in the refrigerated transport and storage market over a sustained period, investing in more reefer vessels, reefer containers, cold-store and terminal operations, as well as forwarding. In 2016, Samskip Logistics obtained a 50% share in Silver Sea AS, based in Bergen, Norway, which operates 14 reefer vessels, principally trading being in the North Atlantic, Baltic, North Sea and Black Sea. Samskip Logistics now owns five reefer vessels. Samskip also invested in new reefer container capacity last year and introduced web-based track and trace capability for temperature-controlled cargoes throughout its network.
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