July 9 - Integrated logistics company, Toll Group is continuing on the acquisition trial and is acquiring WT Sea Air Group (WT) and Genesis Forwarding Group (Genesis), writes Alice Davidson.
Paul Little, Toll Group's managing director, said: "These two acquisitions combine to provide significant scale to our Toll Global Forwarding Division in Europe. WT is expected to generate around AUD170m (USD150m) in revenue this year, and Genesis around AUD80m (USD70m)."
WT is principally involved in UK inbound cargo from Asia, specialising in the provision of global forwarding and bonded warehousing.
Genesis specialises in the provision of international multimodal freight services, predominantly in the Defence, Aerospace and Oil and Gas industries across Europe, the US, Asia Pacific and the Middle East.
Together, WT and Genesis employ around 650 people in the UK, Ireland, Asia and North America, and this acquisition is expected to generate over AUD250m (USD220m) in revenue.
Toll has also announced that it has sold 50 percent of its interest in the Pacorini Toll Joint Venture to the Pacorini Group.