Ferry company FRS has announced the sale of its subsidiary, FRS Iberia, which handles the ferry lines between Spain and Morocco, to Danish ferry company DFDS.
Established in 2000, FRS Iberia has grown to become the only ferry company operating all ports in the Strait of Gibraltar, said FRS in a press release.
The company initiated its services with the connection between Tarifa and Tangier. It further expanded to connect Algeciras, Gibraltar, Ceuta, and Tanger Med with a fleet comprising five high-speed catamarans, two classic car ferries, and one RoRo ferry.
Despite facing strong competition, FRS Iberia achieved “extraordinary success” over two decades, added the statement.
The growing Moroccan economy and a mutual market between Spain and the North African country contributed to a steady increase in annual transports, reaching an estimated 1.9 million passengers and 370,000 cars in 2023.
Earlier this year, FRS Iberia sought a partnership to strengthen its growth, and the Danish ferry company DFDS emerged as a fitting ally, indicated the statement.
With a legacy dating back to 1866, DFDS has been a prominent player in ferry traffic across Northern Europe and the Mediterranean region, FRS highlighted.
After negotiating with DFDS, FRS came to the conclusion that selling FRS Iberia to the Danish company was the “most logical step” for both companies.
FRS views this as a crucial move for expanding into new markets and modernizing ferry operations for reduced emissions.
For the CEO of FRS Gotz Becker, this transaction represents a significant milestone.
“We are closely linked to our employees, our friends, and our ships in Morocco and Spain. And we are pleased to have found a partner in DFDS who will continue to run the company in a proven manner,” Becker said.
The transaction is pending approval from the Spanish and Moroccan competition authorities, concluded the statement.
