Port of Tauranga says its acquisition of Quality Marshalling will immediately boost profits and help the port expand.
The port has bought the log marshalling and stevedoring firm for $34 million.
Privately-owned Quality Marshalling is the second largest firm of its kind in the country, handling about 2.5 million cubic metres of logs at Mt Maunganui and Northport.
The 21-year-old company has 133 employees and revenue of $18 million.
The port says the aim of the acquisition is to maintain its presence in the forestry industry supply chain.
Port of Tauranga chief executive Mark Cairns says the company has been looking for a new marshalling and stevedoring business, after selling its half share in C3 to the co-owner Asciano.
He says owning Quality Marshalling enables the port to maintain its presence in the forest industry supply chain.
He says it's a well-run business which has good growth prospects and potential.