TOLL EXPANSION: Toll is stalking potential takeover targets in Europe and the US to boost market share
By Sam Freestone | November 10, 2009
The international arm of logistics heavyweight Toll Holdings is actively seeking acquisitions in the US and Europe, Toll Managing Director Paul Little has told ATN.
Little says the latest expansion plans are part of a larger goal to grow the Toll Global Forwarding brand and focus on “the customer at the end of the transaction” which Little says is usually US-based.
But the Toll boss declined to reveal the companies he is targeting, saying it is “too market sensitive”, while adding that “we are always looking for opportunities”.
The plan follows the recent purchase of Dubai-based LDS which Little says will strengthen Toll’s presence in the Middle East.
“From a global Forwarding perspective, we were weak in certain areas, which is exactly why we were interested in the Middle East,” he says.
Toll Global Forwarding is expected to take over LDS’ operations by next week.
Little says the recent purchase of New Zealand-based Global Express is also part of a strategy to increase Toll’s share of market volume.
“LDS will create more volume into Dubai and scale into Europe, Global Express and its main ports are of Asia into New Zealand and into Australia. The other areas that we remain keen on are into Europe and into the US,” he says.
Toll Global Forwarding is based in Hong Kong and employs 2,500 people in 65 cities and 26 countries.