Wrist Acquires Komasco, Expanding its Global Reach to South Korea

Wrist, the world’s largest supplier of provisions, stores and spare parts logistics to vessels and offshore locations, acquires Komasco, a recognized ship chandler in Busan, South Korea. With this acquisition, Wrist is further expanding its global coverage in Asia, gaining foothold at a strategically important maritime hub.

In acquiring Komasco, Wrist is expanding its global operational, commercial and procurement network covering a geography where Wrist is not present today.

Jens Holger Nielsen, Group CEO Wrist, says “We’re looking forward to working with the Komasco team at the strategically important maritime hub of Busan and accelerating the development of the company. Komasco, one of the largest stand-alone ship chandlers in South Korea, has a strong and respected name in the South Korean market and with South Korean as well as international customers, and their management team is experienced and competent. I am certain that our customers will benefit from the synergies and combined capabilities of Wrist and Komasco.”

“As part of Wrist Ship Supply, there is a significant upside for Komasco as we gain access to Wrist’s global coverage, scale and digital platforms, offering significant opportunities for our South Korean as well as international customers. Historically, Komasco has been focusing mostly on customers in South Korea, but this two-way potential in connecting overseas Wrist customers with Komasco and for Wrist to obtain knowledge of South Korean customers is a strong match,” says Johnny Jeong, CEO Komasco.

Komasco will be renamed “Wrist Komasco”.
Komasco serves all major South Korean ports, providing customers with maritime provisions, technical goods, bonded as well as owners’ goods and spare parts handling. The company’s commercial activities and operations are based around Komasco’s headquarters and warehouses located at the main ports of Busan.

Peder Winther, CEO Wrist Ship Supply, adds “In acquiring Komasco in Busan, one of the most important maritime hubs in Asia, we substantially improve our customer value proposition through an expanded global reach and service scope. We’re looking forward to embarking with Komasco and our customers on this exciting journey, and we’re pleased to have the opportunity to welcome the entire Komasco team aboard.”

It is part of Wrist’s strategy to take a leading role in the global consolidation and digital transformation of the maritime supply industry. Consequently, Wrist is continuously exploring new opportunities for serving customers through innovation, technology, geographical and service scope and scale, thereby fueling both organic growth and acquisitions. Further acquisitions are planned and expected in 2024.
Source: Wrist