Move consolidates regional freight forwarding and container transport presence
Australasian freight giants Visa Global Logistics and Mondiale Freight Services have formed a combined entity with a projected annual revenue of $1.2 billion.
Reportedly named Mondiale VGL, both companies have established container transport presence and offer a total end-to-end supply chain solutions in Australia and New Zealand.
Visa and Mondiale currently handle over 500,000 containers and 25 million kilograms of air freight per annum, employing more than 1,500 people globally in freight forwarding, customs, wharf transport, and warehousing.
Both parties are reported to create $600 million in revenue each per year.
The merged Mondiale VGL company will comprise operations across Australia, New Zealand, North Asia, South East Asia, Indian sub-Continent, and Europe.
It will be headed by Ray Meade, who has managed Mondiale’s Australian operations for more than eight years.
The new CEO of the merged group has operated in the global freight markets in Australia and New Zealand for 30 years.
How Visa launched its Erskine Park facility in 2018, here
“The strength of the combined entity, supported by its extremely valued and dedicated staff will deliver significant advantage to both its existing and future customer base,” Meade says.
The founding seven executive shareholders of Visa and Mondiale will remain as shareholders in their executive positions.
“The Mondiale and Visa teams have very close synergies and are an excellent fit in the merged company,” Mondiale director and shareholder John Sargent, says.
Visa director and shareholder Vittorio Tarchi adds: “Each company has grown globally over the last 30 plus years, with complementary global networks and a key focus on customer service.”