Freight News, Sea

DFDS to buy Spain/Morocco ferry operator

[ September 19, 2023   //   ]

DFDS has signed an agreement to acquire Spain/Morocco ferry operator FRS Iberia/Maroc from German-owned FRS Group. FRS Iberia/Maroc operates three routes across the Strait of Gibraltar: Algeciras-Tanger Med, Algeciras-Ceuta, and Tarifa-Tanger Ville.

Its current carryings are around 2.3m freight lane metres, 1.9m passengers, and 370,000 cars by seven vessels with an average age of 23 years. The company is headquartered in Tarifa in Spain and started operations in 2000.

The acquisition expands DFDS’ presence in the Mediterranean adding to its services between Europe and Türkiye and Tunisia. The Danish company says that the integration of FRS Iberia/Maroc is expected to bring operating benefits, including tonnage allocation and business model insights from existing freight ferry routes.

FRS Iberia/Maroc will be integrated in the Ferry Division. Expected synergies and integration plans will be disclosed in connection with the closing of the transaction, which is expected by the end of the year.

FRS Iberia’s current top management team consisting of Ronny Moriana Glindemann and Tim Gädecken will join DFDS and continue to manage the company.

DFDS chief executive, Torben Carlsen, said: “We are excited to expand our network to one of Europe’s significant ferry markets that we expect will continue to show high growth underpinned by the ongoing nearshoring of supply chains to Europe.”

FRS Group chief executive, Götz Becker added: “FRS Iberia/Maroc has achieved great success for more than two decades. We are pleased to have found a partner in DFDS who will run the company in a proven manner to ensure its continued growth and take good care of our employees.”

Meanwhile, the FRS Group has offered Moroccan authorities to assist with the transport of emergency supplies, medicine, and other emergency relief equipment following earthquake in Morocco.