A.P. Moller Capital and South Africa’s RCL Foods have entered into an agreement for the Danish firm to acquire Vector Logistics, a division of RCL Foods.
Vector Logistics is a South Africa-based frozen logistics operator, providing multitemperature warehousing and distribution, supply-chain intelligence and sales and merchandising solutions.
In addition to South Africa, the company has operations in Namibia and Zambia, as well as in Botswana, through a joint venture partner.
The sale will provide Vector Logistics “the opportunity to accelerate its mission of “’Going Beyond in supply chain expertise and logistics services, including expanding further afield to meet growing demand in Africa”, say the two companies in a statement.
“We see a growth opportunity for Vector Logistics and we believe that our experience and our network will help to drive this growth,” says A.P. Moller Capital partner Joe Nielsen.
“A.P. Moller Capital would be able to help us move up the supply chain maturity curve, particularly from a technological perspective, to support growth, and to support a strong environmental, social and governance agenda,” adds Vector Logistics MD Chris Creed.
A.P. Moller Capital says it is committed to maintaining business as usual, noting that Vector Logistics will continue to service its current customers on the basis of its existing contractual agreements.
The implementation of the sale is subject to approval by the relevant competition authorities and the South African Reserve Bank.