Qube finalises acquisition of Port of Auckland subsidiary

Port of Auckland Limited said it was sharpening its focus on core operations by selling its Nexus Logistics subsidiary to Qube Holdings.

Nexus Logistics provides fully integrated container logistics solutions across New Zealand, including container transport and handling via rail and road, container storage, wharf cartage, and port operations.

Since acquiring ISO Limited in 2017, Qube has established itself as a serious trans-Tasman player.

In 2023 it acquired Pinnacle Group, which included Metrobox and the Specialised Group of Companies.

Qube now employs more than 1500 people across New Zealand.

The listed Australian supply chain operator is currently itself considering a takeover bid by Macquarie Asset Management.

“The acquisition of Nexus further enhances Qube’s NZ portfolio and will support the expansion of Qube’s container logistics offering in Auckland, supported by a long-term lease at the South Auckland Freight Hub,” said Qube Director of Logistics and Infrastructure, John Digney.

“We’re delighted to welcome the Nexus team to Qube and look forward to working with them and the Port of Auckland to continue delivering excellent customer service.”

The terms of sale include the Nexus business, brand, the operating plant and equipment.

The port retains ownership of the site at Wiri which will be leased back to Nexus Logistics on a long-term lease.

“This sale occurs at the right time for both the Port of Auckland and Nexus, with the team led by Darcy Hart, delivering strong momentum, commercial results and customer centric solutions,” said Port of Auckland CEO Roger Gray.

“With Qube taking ownership, their capability, reach and scale will help propel Nexus to the next level.

“To ensure continuity and long-term value for our stakeholders, the port have agreed a long-term strategic partnership with Nexus under Qube’s ownership as part of the sale.”

Completion of this transaction is subject to customary closing conditions and is anticipated to occur on or around 1 December 2025, followed by the separation of Nexus Logistics from the Port of Auckland.

Following completion of the separation Darcy Hart of Nexus will remain as CEO alongside his lead team, to provide continuity to employees and customers.