Toll plans to acquire WT Sea Air Group (WT) and Genesis Forwarding Group (Genesis) - in two deals that, combined, are expected to generate revenue of more than A$250 million for Toll.
According to Toll's managing director Paul Little, the two UK-headquartered acquisitions will provide significant scale to the Toll Global Forwarding (TGF) division in Europe.
WT is principally a UK inbound business from Asia specialising in the provision of global forwarding and value added services such as bonded warehousing, pick-pack, garment re-hanging, vacuum packing and final mile delivery services.
Genesis provides complex and mission-critical international multi-modal freight. predominantly in the Defence, Aerospace and Oil & Gas industries across Europe, the US, Asia-Pacific and the Middle East.
The Toll Group operates in 55 countries, and, since the BALtrans acquisition in 2007, has continued its global expansion with a string of acquisitions:
2010:
- Qantas' Asia Pacific express airfreight business, DPEX Worldwide
- The assets of Concord Park, a privately owned interstate transport company
- US freight forwarding company, Summit Logistics
2009:
- Japan-based Footwork Express
- New Zealand-based freight forwarder, Express Logistics Group
- Dubai-based international freight forwarding company, Logistic Distribution Systems
- Asia-based express / courier companies Deltec, Kwikmail and Skynet
- Asia Pacific based shipping and freight forwarding company, Perkins Shipping
- China-based St-Anda Logistics and India-based BIC Logistics
Toll has also concluded the sale of its 50% interest in the Pacorini Toll joint venture to the Pacorini Group of Italy.
Incorporated in 2004, Pacorini Toll provides integrated logistics solutions and trade finance facilitation for the ferrous and non-ferrous metals industries.
Little said that while the JV has been a successful business since its formation, it is not a core asset for Toll.
Pacorini Toll is now a wholly owned subsidiary of B. Pacorini, and will trade under the name of Pacorini Metals.
