Leading Australian transport group Toll Holdings has announced two acquisitions in Australia andNew Zealand, and has also sold back the New Zealand rail operator to that country’s government.
Toll has signed an agreement to buy the Australian courier and express transport groupCourier Australia for an undisclosed sum. Based in Western Australia, Courier Australia will addscale to some of Toll’s existing courier and express businesses with its strong regional network.Established in 1959, the company employs about 600 staff and independent contractors in the stateof Western Australia.
“This acquisition will boost Toll’s presence in Western Australia’s courier and expressbusiness segment and is another demonstration of Toll’s commitment to acquiring quality assets asopportunities present themselves,” said Paul Little, Managing Director of Toll Holdings.
“This is a good acquisition for us. It is a good fit for our existing customers, staff andbusiness units. We anticipate Courier Australia being earnings per share positive in its first yearwith Toll,” Little concluded.
In New Zealand, Toll has signed a conditional purchase agreement for the business of truckingcompany United Carriers with an annual turnover of approximately NZ$50 million. (€24.8 million).United Carriers has businesses in a range of logistics sectors including general freight,livestock, logging, warehousing and international freight forwarding. It employs 360 staff and hasa fleet of 220 trucks.
“United is a very complimentary acquisition for Toll. It expands our existing businesses inNew Zealand into Northland where our presence was previously limited,” Little said.
Separately, Toll has sold off its New Zealand rail and ferry operations to the New ZealandGovernment. The sale involves payment of NZ$665 million (€335 million) for equity plus a six yearrent free period on existing premises with Toll retaining the Tranzlink business. The settlement isexpected to occur by 30 June 2008 with a management transition period.
The Toll Group is Australia’s largest logistics company with operations in 44 countries.
