Peel Ports, now one of the largest of the UK’s port groups, announced on December 16th 2015 that it had completed the acquisition of Great Yarmouth Port Company Ltd from International Port Holdings for an undisclosed sum.
Peel Ports own and operate six of the UK and Ireland’s most important ports handling circa 70 million tonnes of cargo every year.
GYPC is well established as the leading UK port servicing the UK sector of the Southern North Sea offshore oil and gas industry and has other activities in regional grain, aggregate and other bulk and general cargoes. In its last annual accounts, it reported revenue of £10.9m and an operating profit of £4.5m. It currently employs approximately 65 employees all of whom are located at Great Yarmouth.Mark Whitworth, Chief Executive of Peel Ports said: “GYPC will complement Peel Ports core ports business by providing both geographical and commercial diversification. It is a very welcome addition to our business portfolio."