Estimated $1 billion deal accelerates shipping line’s movement into port and logistics operations.

German container shipping line Hapag-Lloyd AG is stepping up its push into inland logistics with the acquisition of the shipping terminal and logistics businesses of Chile’s Sociedad Matriz SA AM SA for around $1 billion.

Under the agreement unveiled Tuesday, the German shipping company will acquire SAAM Ports SA and SAAM Logistics SA, as well as a real-estate portfolio from Sociedad Matriz. The ports business comprises terminals in Chile, as well as other countries in South and Central America and in Florida.

The logistics business is concentrated at five ports in Chile, Hapag-Lloyd said.

The acquisition follows Hapag-Lloyd’s purchase last month of a 49% stake in Italian terminal operator Spinelli Group and an investment a year ago in Germany’s JadeWeserPort Wilhelmshaven, which operates port and rail facilities.

The Sociedad Matriz deal is in line with Hapag Lloyd’s strategy to expand involvement in the terminal sector, the shipping line said.

“The purchase agreement that has today been signed will further strengthen Hapag-Lloyd’s business while building up a robust and attractive container terminal portfolio,” the company said.