DFDS Completes FRS Iberia/Maroc Acquisition
DFDS has completed its acquisition of FRS Iberia/Maroc, a short-sea ferry company connecting Spain and Morocco via the Strait of Gibraltar.
“We are excited to start the integration of FRS Iberia/Maroc and look forward to applying our joint capabilities to grow the business while continuing to provide reliable, efficient ferry services to both passengers and freight customers,” said Torben Carlsen, CEO of DFDS.
Reporting preliminary revenue of DKK 1.0bn for 2023, FRS Iberia/Maroc has three routes operated by a total of 850 staff of which just over 400 are own employees. DFDS’ owned combined freight and passenger ferry (RoPax), Patria Seaways, was chartered by FRS Iberia/Maroc in November 2023 for interim deployment on the Algeciras-Tanger Med route.
FRS Iberia/Maroc will become part of DFDS' Ferry Division, and its top management team consisting of Ronny Moriana Glindemann and Tim Gädecken have joined DFDS and will continue to manage the business. The integration is expected to be completed within three years.
Accrodong to DFDS, the acquisition expands its network to a region where growth in the coming years is expected to be supported by nearshoring of supply chains closer to Europe. DFDS said it will deploy freight and passenger capabilities to grow and optimize operations building on expected annual trade growth of 8% between Morocco and Europe for the next five years.