Friday, October 23, 2009

Australian Toll Freight Group Snap Up Express Logistics

New Zealand Acquisition adds to Transport Portfolio
Shipping News Feature

AUSTRALIA – In media releases today Toll Holdings announced that it had acquired the assets of one of the largest New Zealand freight forwarding companies, Express Logistics Group (ELG). In a A$50 million move Toll have added the twelve ELG branches, which span the US as well as Australia and its home country, to the group which already boasts a network of over 700 locations in fifty plus countries around the world.

ELG turn over around A$125 million per annum, principally for garment and footwear importers and exporters with most work undertaken locally and from Chinese sourced goods. Their warehouse and transport assets should fit with the expanding Toll profile.

In a separate statement Toll confirmed the completion of a deal in which they have taken over the Japanese logistics providers Footwork Express. Although Toll have held a minority share in Footwork since 2006 they announced earlier this month that they would take full control of the company, which employs 5000 people, to gain a local foothold in the insular Japanese market.