Wallenius Wilhelmsen has acquired the remaining 35 percent of shares in Armacup, bringing its total ownership to 100 percent. The transaction closed on April 30, 2025, according to the company's release.
The acquisition was anticipated following the amended shareholder agreement established in 2022, which stipulated that Wallenius Wilhelmsen would purchase the remaining shares.
“This acquisition will further enhance the synergies between Wallenius Wilhelmsen and Armacup. It is a strategic move that will also bring growth opportunities in the Asia-Oceania trade through Wallenius Wilhelmsen’s market-leading capacity and our existing investment in integrated logistics offerings in Australia,” said Xavier Leroi, Chairman of the Board at Armacup and COO Shipping Services at Wallenius Wilhelmsen.
Wallenius Wilhelmsen and Armacup already share a pool of vessels, customer base, and agencies in China and Australia. Armacup, based in New Zealand, has been active in the Japanese used car trade since the 1980s and now serves OEMs in Japan, China, and South Korea.
Wallenius Wilhelmsen is a global shipping and logistics company headquartered in Norway. The company specializes in transporting cars, heavy machinery, and breakbulk cargo, offering both sea and land-based logistics solutions. It operates a fleet of specialized Roll-on/Roll-off (RoRo) vessels and provides end-to-end logistics services, with a strong presence in the Americas, Europe, and the Asia-Pacific regions.
Armacup is a New Zealand-based shipping company established in the 1980s. It is known for pioneering the transport of used cars from Japan to global markets. Over the decades, Armacup has expanded its focus to cover broader Asia-Oceania trade lanes, servicing both established and emerging OEMs in Japan, China, and South Korea.