Toll takes major step in US logistics market
Toll Group's plan to boost its global forwarding effort with an entry into the US market has taken a significant step forward with the $80m acquisition of US firm Summit Logistics International.
Summit claim: Toll makes US footprint (Photo: Summit Logistics International)
Summit was described as a top-5 transpacific ocean-freight services operator which also provides transport and logistics to US freight forwarding customers.
Toll managing director Paul Little flagged in October that the company was looking to build a substantial position for Toll Global Forwarding (TGF) in the US and European markets.
"We have been investigating US-based opportunities for some time and this is an important acquisition for the group in the global forwarding market," Mr Little said yesterday.
"The development of significant scale in the transpacific trade lane is a key element of delivering price-competitive services to US-based customers.
"Importantly, integrating Summit into TGF also improves Toll’s total supply chain capability in the US market.
"The capability and positioning of Summit in the Greater China-US trade lane is highly attractive to Toll as TGF is already a leader in the Asia-Australasia trade lane.
"This acquisition positions the division as a leading supplier of North Asia to North America logistics in the global forwarding sector.
"With the Summit acquisition, TGF’s mix of international freight forwarding and domestic US capabilities will enable the business to offer a more extensive domestic deliver-to-customer capability, from China to all major city destinations in the US."
