Hawaii’s largest shipping company, Matson Inc., said Monday it will acquire Span Alaska Transportation LLC in an effort to expand its Alaska service offerings.
Matson’s subsidiary Matson Logistics Inc. will acquire 100 percent of the equity of Span Alaska for a cash purchase price $197.6 million. The deal is expected to close in the third quarter.
“The acquisition of Span Alaska underscores Matson’s long-term commitment to Alaska and our mission to move freight better than anyone,” said Matt Cox, president and CEO of Matson.