Silk Logistics has revealed that Harvest Lane Asset Management Pty Ltd is now a substantial shareholder after acquiring nearly two million shares. With a 6.08% voting power, this move comes amidst Silk’s upcoming acquisition by DP World Australia.
The acquisition, announced in early November, is slated for completion in early 2025, subject to regulatory approvals. Silk’s Board of Directors has unanimously backed the deal, stating it aligns with the best interests of shareholders. CEO and Managing Director John Sood highlighted the recognition this transaction brings to Silk’s extensive port-to-door services, strong customer relationships, and national infrastructure.
With 21 logistics hubs and 25 warehousing sites across five states, Silk Logistics continues to play a pivotal role in Australia’s logistics industry. Harvest Lane’s investment underscores the confidence in Silk’s strategic vision and its growth potential under DP World Australia’s ownership.
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