M&A Deal Summary

Matson Acquires Horizon s Alaska Operations

On November 11, 2014, Matson acquired transportation company Horizon s Alaska Operations from Horizon Lines for 456M USD

Acquisition Highlights
  • This is Matson’s 3rd transaction in the Transportation sector.
  • This is Matson’s 2nd largest (disclosed) transaction.
  • This is Matson’s 2nd transaction in the United States.

M&A Deal Summary
Date 2014-11-11
Target Horizon s Alaska Operations
Sector Transportation
Buyer(s) Matson
Sellers(s) Horizon Lines
Deal Type Divestiture
Deal Value 456M USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

Horizon s Alaska Operations

United States
Horizon's Alaska Operations pioneering container shipping into the market in 1964 under the Sea-Land banner. Horizon deploys three diesel powered Jones Act qualified containerships and operates port terminals in Anchorage, Kodiak and Dutch Harbor. Horizon's Alaska service consists of two weekly sailings from Tacoma to Anchorage and Kodiak, and a weekly sailing to Dutch Harbor. In addition to the three vessels deployed, Horizon has a reserve steam powered Jones Act containership for dry-dock relief.

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Buyer(S) 1

Buyer

Matson

Honolulu, Hawaii, United States
Category Company
Founded 1882
Sector Transportation
Employees4,315
Revenue 3.1B USD (2023)
DESCRIPTION

Matson is a U.S. transportation carrier in the Pacific. Matson serves Hawaii, Guam, Micronesia and select South Pacific islands, and operates an expedited service from China to Southern California. The Company's fleet consists of 18 owned and three chartered vessels including containerships, combination container/roll-on/roll-off ships, and custom-designed barges. Matson was founded in 1882 and is based in Honolulu, Hawaii.

DEAL STATS #
Overall 3 of 3
Sector (Transportation) 3 of 3
Type (Divestiture) 1 of 1
Country (United States) 2 of 2
Year (2014) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 Horizon Lines

Charlotte, North Carolina, United States

Horizon Lines, Inc. is a container transportation shipping company, accounting for over 35% of all U.S. marine container shipments from the U.S. mainland to Alaska, Hawaii / Guam and Puerto Rico.

Buy $469M

Seller(S) 1

SELLER

Horizon Lines

Charlotte, North Carolina, United States
Category Company
Founded 1956
Sector Transportation
Employees1,621
Revenue 1.0B USD (2013)
DESCRIPTION

Horizon Lines, Inc. is a container transportation shipping company, accounting for over 35% of all U.S. marine container shipments from the U.S. mainland to Alaska, Hawaii / Guam and Puerto Rico.

DEAL STATS #
Overall 3 of 3
Sector (Transportation) 3 of 3
Type (Divestiture) 2 of 2
Country (United States) 3 of 3
Year (2014) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-11 Horizon Lines - Hawaii Trade Lane Assets and Liabilities

Hawaii, United States

Horizon Lines - Hawaii trade lane assets and liabilities provides a reliable transportation services that leverage its unique combination of ocean transportation and inland distribution capabilities to deliver goods that are vital to the prosperity of the markets it serves.

Sell $142M
Mergr

Product

Company

Legal