Supply chain provider Toll Holdings is being bought out by Japan Post for $5.2 billion. Toll, which is one of the largest independent providers in Asia Pacific, will be run as a division of the Japanese postal and logistics provider when the deal is complete in June, but will retain its name and management set up. Toll’s CEO Brian Kruger will report to Japan Post’s CEO Toru Takahashi.
“Toll has become an iconic Australian transport and logistics business with significant operations in Asia,” said Kruger. “We will be complementary to Japan Post, and closely aligned in our target markets. Combined we will have an expansive geographical footprint with Toll providing expertise in the global logistics and transport markets. Japan Post will bring extra capability, financial strength and significant scale to accelerate growth.”
Toll’s supply chain services cover a wide range of sectors, including automotive, where it provides comprehensive multimodal logistics and transport services for both inbound and outbound movements.
Japan Post’s Takahashi said: “We believe the combination of Japan Post and Toll will be a transformational transaction for both our companies and we are very pleased we have been able to reach agreement. In partnership with Toll we are starting a new chapter of looking outward and becoming a leading global player.”
This is the second major buyout by a Japanese company this week. As reported, Kintetsu World Express has bought APL Logistics from its parent company Neptune Orient Lines (NOL) for $1.2 billion.
Japan Post tried to move into a wider global logistics role through a joint venture with TNT back in 2005. That venture was abandoned because, as was reported at the time, the two companies could not agree on the speed of expansion in Asia.
