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FOR IMMEDIATE RELEASE
The Pasha Group Announces Agreement to Acquire Horizon’s Hawaii Business
[Honolulu, HI – November 11, 2014] The Pasha Group, a family-owned global logistics and
transportation company, today announced an agreement to acquire the Hawaii trade-lane business of
Horizon Lines, Inc., a Jones Act container shipping and integrated logistics company, for approximately
$141.5 million. The transaction will greatly expand and complement Pasha’s current offerings for
shipping between the mainland United States and Hawaii.
Under the terms of the agreement, Pasha will acquire certain subsidiaries of Horizon constituting
substantially all of Horizon’s Hawaii trade-lane business, including four Jones Act container ships.
Immediately following Pasha’s acquisition of Horizon’s Hawaii trade-lane business, Horizon will be
acquired by Matson pursuant to a merger. The transaction is expected to close in 2015, subject to
regulatory approval, satisfaction of the closing conditions to the merger of Horizon and Matson and
other customary closing conditions.
In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha’s existing operations.
With these additional vessels, Pasha will provide customers with a wider offering of high-quality,
scheduled shipping and logistics services for containers, refrigerated containers, and a variety of rollon/roll-off cargoes.
“Since Pasha entered the Hawaii transportation circuit nearly 10 years ago, we have elevated the quality
of customer service,” said George Pasha, IV, President and CEO. “With this acquisition, we will
supplement that service and provide an improved, more competitive offering on the Hawaii trade lane.”
“First and foremost, Pasha is a full-service transportation company,” Pasha added, “and as such our
primary goal is to enrich the transportation services available to our customers. A decade ago, we
introduced the first pure car/truck carrier for the Hawaii-Mainland trade lane, the Jean Anne, in
response to customers’ needs. We now look forward to providing Pasha-quality service for even more of
the people of Hawaii.”
Pasha noted that environmental responsibility and stewardship will continue to be a major part of
Pasha’s culture and vessel operations with the addition and improvements to Horizon’s ships. The
company will also stay actively involved with local charities and organizations in the communities it
serves. “We are excited to welcome Horizon into our ‘ohana,” Pasha said.
AMA Capital Partners LLC is serving as financial advisor to The Pasha Group, Inc. and Cadwalader,
Wickersham & Taft LLP and Nixon Peabody LLP are serving as legal advisors.
For photos, go to: http://bit.ly/1CiIpUg
For video clips, go to: http://bit.ly/1sOFv9h
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About The Pasha Group and Pasha Hawaii
Established in 1947, The Pasha Group is a family-owned, third-generation diversified global logistics and
transportation company that provides total supply chain management for finished and privately owned
vehicles, marine terminal management and stevedoring, domestic and international relocation services,
and international logistics management for general commodity and project cargoes. The Pasha Group
operates facilities at the ports of San Diego and Los Angeles, California; Honolulu, Hawaii; Grays Harbor
in Aberdeen, Washington; Portsmouth, Virginia; and Port Manatee, Florida.
Pasha Hawaii offers roll-on/roll-off transport between the West Coast and Hawaii for a wide range of
vehicles, yachts, heavy machinery, oversize cargo, and containers. Pasha Hawaii is an independent
operating subsidiary of The Pasha Group.
More information can be found at www.pashahawaii.com and www.pashagroup.com.
Media Contacts
Laurie LaGrange
Pasha Hawaii
Ontai-LaGrange and Associates
(808) 375-9335
[email protected]
Emily Sinclair
The Pasha Group
Corporate Communications
(415) 927-6281
[email protected]
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PASHA–HORIZON HAWAII BUSINESS ACQUISITION
Fast Facts
The Pasha Group announced an agreement to acquire the Hawaii trade-lane business of Horizon Lines,
Inc. for approximately $141.5 million. Expanding vessel operations will enable Pasha to benefit
customers by providing a wider offering of high-quality, scheduled shipping and logistics services for
containers, refrigerated containers, and a variety of roll-on/roll-off cargoes.
•
Pasha currently offers fully enclosed roll-on/roll-off transport between the West Coast and
Hawaii for vehicles, yachts, heavy machinery, oversize cargo, and a limited number of
containers.
•
Horizon Lines, Inc. is a leading Jones Act container shipping and integrated logistics company
that serves all three noncontiguous domestic markets of Alaska, Hawaii, and Puerto Rico from
the continental United States.
•
Immediately following Pasha’s acquisition of Horizon’s Hawaii trade-lane business, Horizon will
be acquired by Matson pursuant to a merger.
•
The transaction is expected to close in 2015, subject to regulatory approval, satisfaction of the
closing conditions to the merger of Horizon and Matson and other customary closing conditions.
•
After the acquisition, Pasha will operate Horizon’s Hawaii business alongside Pasha’s existing
Hawaii operations.
•
Pasha introduced the first pure car/truck carrier for the Hawaii-Mainland trade lane in 2005 to
meet an unmet need in the market for automotive logistics.
•
Pasha’s primary interest in the Horizon acquisition is to enrich the transportation services
available to customers in Hawaii and on the Mainland.
•
Pasha hires local people and provides numerous job opportunities for employees with the ILWU
when the Jean Anne is in port.
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Pasha is renowned for its expertise in finished and pre-owned vehicle handling and processing,
and maintains an exceptional record for delivering vehicles free of transit damage.