DP World, a global leader in supply chain solutions has reinforced its commitment to the global automotive industry with the acquisition of CFR Rinkens, a specialized logistics service provider headquartered in Long Beach, California.
The acquisition of CFR Rinkens represents a strategic move to enhance its capabilities in delivering precisely tailored solutions to its automotive clients. DP World already transports one in every 10 new cars worldwide, and this acquisition brings new dimensions to the company’s comprehensive suite of services.
CFR Rinkens, with its specialized expertise, provides invaluable proficiency in containerized finished vehicles, semi-knock-down vehicle logistics, and innovative racking systems. This additional depth of knowledge is set to fortify DP World’s position as a trusted partner for automotive clients, supporting them through the industry’s transition to electric vehicles and the global evolution towards sustainable energy solutions.
What’s more, CFR Rinkens brings its wealth of experience in delivering tailored logistics solutions to the emerging energy storage and battery life cycle industries. The acquisition fortifies DP World’s ability to customise its offerings to meet the evolving needs of its clients.
Beat Simon, Global Chief Commercial Officer, Logistics at DP World, said: “We are thrilled to welcome CFR Rinkens into the DP World family as we continue to deliver our strategy to provide innovative end-to-end logistics services to our clients. Our combined capabilities will empower our automotive clients to navigate the challenges presented by the industry’s shift to electric vehicles and the emerging green energy revolution.”
Christoph Seitz, CEO of CFR Rinkens, shared his excitement at the acquisition and said: “We look forward to joining forces with DP World and foresee substantial growth opportunities ahead through their extensive global terminal and logistics network. Our shared vision revolves around redefining customer experiences by streamlining operations and introducing innovative solutions. We are confident that integrating with DP World will empower us to expand into new markets and elevate our service offerings, ensuring unparalleled value for our clients.”
With advanced technology and extensive global logistics network, DP World is transforming the automotive industry. Handling over 10% of global automotive trade and collaborating with top manufacturers, DP World leverages its interconnected network of ‘roll-on-roll-off’ (Ro-Ro) ports, sea vessels, warehouses, and freight forwarders to efficiently transport finished vehicles to global markets.
Boasting 16 Ro-Ro terminals, shipping over 30,000 cars in containers annually, and offering storage solutions for over 1 million cars, DP World’s strategic sites handle 2 million car equivalent units each year, while also providing value-added services for dealer-ready vehicles.
The financial advisory services for CFR Rinkens in this transaction are provided by Cascadia, while Rutan & Tucker serves as the legal advisor. The specific terms of the deal have not been disclosed, and the arrangement remains subject to standard and customary approvals.
