P&O Ferries snapped up for £322m

P&O Ferries have been acquired in a deal worth £322m by, Dubai based DP World.

P&O handles more than 2.5m freight units and more than 30,000 voyages per year, this accounts for almost 75% of their revenue.

The ferry firm booked sales of £1.1bn during 2017, with earnings of £100m.

Sultan Ahmed Bin Sulayem, chairman and chief executive of DP World said, “P&O Ferries is a strong, recognisable brand and adds a best-in-class integrated logistics provider into our global portfolio.

“Importantly, P&O Ferries provides efficient European freight connectivity building on last year’s acquisition of Unifeeder.

“This transaction is in line with our strategy to grow in complementary sectors, strengthen our product offering and play a wider role in the global supply chain as a trade enabler.”

P&O employs nearly 4,000 people, while DP World employs 45,000 people across marine and inland terminals.