Kings Transport buys rival Blue Circle to merge two of the largest metropolitan carriers in Australia
The Kings Consolidated Group has acquired warehousing and transport player Blue Circle Logistics in a major coup, merging two of the largest metropolitan carriers in Australia.
The new company will employ more than 470 permanent staff and 1,800 sub-contractor drivers, generating a combined $145 million in revenue throughout the current financial year.
Announcing the deal to customers yesterday, Kings Managing Director Scott Peacock said the similarities between the two organisations in areas like organic growth and customer service made the Melbourne-based business an obvious target for the rapidly growing express and courier operator.
Both Melbourne-headquartered companies have depots in Brisbane and throughout Australia.
“With each business being an active player in the local market for many years this strategic purchase will create a significantly larger and diverse group of entities,” Peacock says in a statement.
“Blue Circle and Kings have been very successful in expanding organically over the years and this partnership of expertise, augers well for the future.
Peacock told stakeholders the “rapid growth” of the company will provide “exciting career opportunities for all staff across Australia and New Zealand”.
Immediate pans for the new entity have not yet been drawn up, but Peacock says it will be “business as usual” for both businesses in the short term.
“The key focus in the short term will be understanding the needs of the customer base along with gaining an intimate understanding of the Blue Circle business,” Peacocks says.
“We look forward to an extremely bright and prosperous future for all customers, staff, drivers and suppliers as we enter this new and exciting chapter together.”
Read more at sister publication Australasian Transport News – click here.