We want Concord Park: Toll

Toll swoops on Concord Park, but ACCC will have final say on proposed takeover of the big-name carrier

We want Concord Park: Toll
We want Concord Park: Toll
By Brad Gardner | May 11, 2010

Transport and logistics giant Toll Holdings has reached an agreement to buy Concord Park, but the competition watchdog may scupper the deal.

A spokesman for Toll says the company plans to integrate the privately-owned business, which began in 1990, into its Toll Express division.

With a national footprint, Concord Park is one of the country’s largest carriers.

"Concord Park offers distribution, third party logistics and transport services with branches located in all capitals," the spokesman says.

"It operates Australia-wide including time-slot deliveries into distribution centres and bulk linehaul. Its customer base and operations will fit nicely with Toll’s existing businesses."

The spokesman expects the acquisition will increase Toll’s earnings per share (EPS) within a year of the deal being done.

However, the Australian Competition and Consumer Commission (ACCC) will make a decision on June 10 whether the move is anti-competitive.

"An informal review was commenced on May 6," an ACCC spokeswoman says.

Submissions are being sought on the proposed deal from interested parties, who have been given until May 20 to make their views known.

Concord Park is owned by the Barrot Group of Companies, which also runs Concept Logistics, Concord Park Express, CP Haulage, Concord Park Metro, Barrot Logistics and Concord Park Linehaul.

Toll has made no secret of its plans to gobble up competition, with Managing Director Paul Little last year revealing a $700 million "war chest" to spend on takeovers.

"We could quite easily be expanding that sort of number. It’s more likely however that you’ll see two or three smaller acquisitions than one big one," Little told ABC1’s Inside Business program last October.

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