Red Funnel acquire Blue Funnel Ferries
Red Funnel has acquired Blue Funnel Ferries which operates of the Hythe Ferry service.
Blue Funnel Ferries will be renamed the Hythe and Southampton Ferry Company Limited and will become part of the Red Funnel Group. The name change recognises the 1874 company that built and operated the Hythe Pier and Ferry.
Red Funnel purchase will help secure the service which operates across the Solent and protect jobs.
Graham Barnetson, Chief Financial Officer at Red Funnel Group, said: "Red Funnel has been operating a service to the Isle of Wight for almost 162 years, and we are very proud of our heritage in providing connectivity across the Solent.
"The Hythe Ferry also has a deep-rooted connection with the Solent area and a ferry service has operated between Hythe and Southampton since the Middle Ages. We are delighted to be able to protect its future and by continuing this vital transport link, we will support the Waterside community and local businesses as well as supporting our core lifeline service to and from the Isle of Wight."
The first crossing of the Hythe Ferry under Red Funnel ownership took place on Thursday at noon from Hythe to Town Quay, Southampton.
BDB Pitmans and BDO advised on the deal.
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