The Port of Silloth has been sold to a new group.
Associated British Ports announced today that it had reached an agreement for the Cumbrian port and its Fleetwood operation with Fox Group, subject to approval.
Fox Jackson Ports, established for the acquisition, is part of Fox Group, a fourth-generation family-owned and North West-headquartered construction services, logistics and property group
It said it was acquiring the two ports in order to continue its sustainable growth trajectory, and support the movement of more of its aggregates via sea.
Paul Fox, CEO of Fox Group and Andrew Duckett, CEO of JA Jacksons said: “The acquisition of the ports of Fleetwood and Silloth aligns with our long-term vision for
sustainable growth as a company and develops our long established and extensive property portfolio.
“We look forward to working closely with local communities, businesses and stakeholders to ensure the continued success and development of these vital ports and the economic development of the North West.”
Julian Walker, chief commercial officer and regional director, Wales and Short Sea Ports for ABP, said: “ABP is committed to securing the best long-term future for the ports in its portfolio.
“The strong vision that the Fox Group has for the ports of Fleetwood and Silloth, building on the group’s long established local links and presence, offers a bright future for both ports.
“ABP has a number of exciting projects across our remaining ports in the North West of England and South West Scotland and today’s announced deal allows us to focus resources on further maximising these opportunities.”
Fox said it would continue to operate Fleetwood and Silloth as working ports, handling cargo and providing a strong offering to other maritime customers such as
marina users.
Fox will also look at other value adding opportunities to develop the ports from this core proposition, it added.
ABP said it was committed to working with Fox to support the long term employment of workers at Fleetwood and Silloth and will ensure all legislative processes are followed.
It added: “Both ABP and Fox will be engaging with staff at both locations throughout the acquisition process to assist understanding of impacts on them.”
The completion of the acquisition is subject to regulatory clearances, such as the transfer of the appropriate harbour authority authorisations, and customary closing conditions.
ABP also operates the Port of Barrow.
