International transport company Toll Group has announced it has entered an agreement to acquire Transolve Global.
Transolve is an Australian-based specialist in international freight forwarding of wine, bulk liquids and perishables.
The strategic acquisition is set to enhance Toll Global Forwarding’s capabilities, with the transaction expected to be completed “in a few weeks”.
“We are very excited about Transolve becoming part of Toll. The Transolve team has built impressive capabilities that will significantly enhance our customer solutions for customers and drive our growth in our strategic verticals,” Toll Global Forwarding interim president Suhail Qureshi says.
Transolve’s renowned expertise in handling wines, bulk liquids and perishables will operate as a separate brand within the Toll Global Forwarding division.
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The acquisition now allows Toll Group to enhance its services, offering new solutions to existing customers.
The acquisition will allow Transolve’s customers to leverage Toll’s extensive international network, gaining access to a broader range of logistics services.
Transolve CEO Rachael Budd will lead the new business unit and join the Toll Global Forwarding leadership team as senior vice president Transolve, bringing invaluable expertise and leadership.
“We are thrilled to be a part of Toll Group. This acquisition amplifies our capabilities and expands our reach, enabling us to deliver more value to our customers in the wine, bulk liquids, and food & beverage sectors,” Budd says.
This acquisition marks a significant step in Toll Group’s commitment to supporting its customers’ regional and global growth ambitions.
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