German shipping company Harren & Partner and Spanish Pérez y Cía have reached an agreement for Pérez y Cía to acquire CFS Caribbean Feeder Services Inc. from Harren & Partner.
“I am very proud and pleased that we have reached this agreement. Pérez y Cía is a highly respected company known for its quality, expertise and experienced employees. It is the reliable long-term partner we were looking for,” said Peter Harren, Founder and Managing Director of Harren & Partner.
“We believe that this acquisition will give CFS a very strong position for the future. CFS will continue to provide its excellent services and still operate as a separate brand. There won’t be any changes for CFS’s clients.”
CFS launched the first independent feeder service in the Caribbean with its inaugural sailing on 1 August 1999. Its fleet of vessels, managed by Harren & Partner, supported its development and growth. Today, Harren & Partner continues to provide 50 percent of the vessels deployed in the CFS fleet. Operating a hub-and-spoke network of regular and reliable feeder services for global and regional carriers, CFS currently operates a fleet of 16 vessels ranging from 700 TEU to 1,400 TEU capacity calling at 28 ports in the Caribbean with connections in all major transhipment hubs.
“All of our vessels deployed in the CFS fleet will remain with CFS, ensuring their long-term use. CFS will grow even bigger and stronger together with Pérez y Cía”, explained Peter Harren.
With the acquisition and strong backing of its new owners, the CFS management team headed by CEO Tom Paelinck will remain unchanged. The company will continue to operate and serve CFS customers from its offices in Miami, Kingston and Panama. Peter Harren will stay on the board of CFS as Honorary Chairman.
Source: Maritime Shipping News