Crowley Maritime Corp 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. A sale agreement should be tied up by the end of this month.
Steve Collar, Crowley senior vice president and general manager, Caribbean and Latin America services, told Crowley employees: “This acquisition represents a great opportunity for Crowley to grow its footprint and capabilities in the Caribbean Basin. We look forward to working together with SeaFreight’s employees to set our path for growth and success.”
SeaFreight President Roland Malins-Smith said in a message to its employees: “Many of us recognize that our industry is undergoing fundamental change which emphasizes the importance of scale and the wisdom of consolidation. In accepting the Crowley offer, SeaFreight has chosen to work with a like-minded group which shares our commitment to service excellence, integrity and focus on the wider Caribbean. We believe that this move is in the best interest of our customers and our employees.”
