The U.S. Department of Justice (DOJ) has cleared the Pasha Group’s acquisition of the Hawaii trade-lane business of Horizon Lines, Inc. (Horizon).
The Pasha Group said that the clearance paves the way for an anticipated final closing before the end of the second quarter.
U.S. ocean cargo carrier Horizon entered into definitive agreement for the sale of its Hawaii business to the Pasha Group in November 2014.
Upon closing, Pasha Hawaii, a wholly owned subsidiary of the family-owned global logistics company, will assume operations for all of Horizon’s Hawaii business, including Horizon’s four U.S. flag container ships in the Hawaii trade lane.
In addition to the ships, the Pasha Group will also acquire Horizon subsidiaries Hawaii Stevedores, Inc.; the California-based operations of Sea-Logix, LLC, which provides trucking and warehousing services; and Sunrise Operations, a subsidiary that will include Horizon’s vessels and Hawaii-based employees. After closing, Pasha will partner with Jacksonville, Florida-based Crowley Maritime Corporation to provide ship management of the vessels and crew through Crowley subsidiary Marine Transport Management, Inc.
In becoming part of Pasha, Horizon’s Hawaii business will operate alongside Pasha Hawaii’s existing operations, which include Pasha’s two Jones Act-qualified vessels, the M/V Jean Anne and the new M/V Marjorie C.
“We are excited for the opportunity to welcome Horizon’s Hawaii family of employees to the Pasha team,” said George Pasha, IV, President and CEO. “I am confident that the combination of our two businesses will allow us to more effectively serve our new expanded customer base.”
Pasha noted that it plans to make significant upgrades to the Horizon fleet, resuming its focus on environmental responsibility of its fleet.