16 December 2015/Categories: CILT, Industry News, Freight Forwarding, Ports, Maritime & Waterways
Peel Ports Group announced that it has completed the acquisition of Great Yarmouth Port Company Limited (GYPC) from International Port Holdings for an undisclosed sum.
In its last annual accounts, it reported revenue of £10.9m and an operating profit of £4.5m. It currently employs approximately 65 employees all of whom are located at Great Yarmouth.
Mark Whitworth, Chief Executive of Peel Ports said: “GYPC will complement Peel Ports core ports business by providing both geographical and commercial diversification. It is a very welcome addition to our business portfolio. “Bringing together customers and commodities served by both businesses will present a sound base for exploring future growth opportunities. This includes decommissioning, where GYPC’s market position has the potential to further enhance Peel Ports existing strategic assets. “The acquisition is fully aligned with our growth aspirations and strengthens Peel Ports as a leading UK Ports Group”.
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