October 20 - Crowley Maritime Corporation's liner services group has signed a letter of intent to acquire Miami based SeaFreight Agencies, a liner and logistics company that serves the Caribbean and parts of Central America.
Both companies are currently working through the due diligence process in anticipation of executing a defined purchase sale agreement later this year, explained Crowley.
"This acquisition represents a great opportunity for Crowley to grow its footprint and capabilities in the Caribbean Basin," said Steve Collar, Crowley senior vice president and general manager, Caribbean and Latin America services.
In a message to the company's employees, SeaFreight president Roland Malins-Smith justified the decision to accept Crowley's offer: "Many of us recognise that our industry is undergoing fundamental change, which emphasises the importance of scale and the wisdom of consolidation.
