Toll managing director Paul Little.
Australian-headquartered logistics specialist Toll Group is on the acquisition trail again, with the announcement that it will purchase two freight forwarding businesses headquartered in the United Kingdom to become a major player there.
Sea Air Group and Genesis Forwarding Group are, together, expected to generate around A$250 million (USD220 million) in revenue this year.
Toll managing director Paul Little says the two companies will provide significant scale to the group's Toll Global Forwarding (TGF) division in Europe, placing it in the top half dozen forwarders in the UK.
"TGF continues to grow its leadership position in Asian markets for key trade lanes into North America, Australia and the UK."
Both businesses are expected to contribute to the bottom line in year one, based on the combined purchase price of around A$150 million (USD130 million).