The Toll Group is acquiring the DPEX Group, one of the largest independent express air freight businesses in Asia, from Qantas, the company announced today.
The Melbourne, Australia-based Toll Group, an integrated logistics provider, is part of the Toll Global Express (TGX) Division and DPEX will become part of the their Asia Pacific operations.
TGX first expanded their Asian-based services last year when it acquired Deltec, Skynet and Kwikmail.
Paul Little, Toll Group’s managing director, said that this latest acquisition is another part of a growth and development effort in Asia. “[DPEX] will provide additional scale and coverage across a network of 19 countries in Asia,” Little said. “As a result of enhanced volumes, TGX will now offer customers an improved service offering and will be more competitive. These factors are key to our growth strategy in this segment.”
The Toll Group generates revenue of more than $5.3 billion and employs more than 35,000 people in 55 countries.
The DPEX acquisition will provide more than $24.7 million in revenue and is expected to be EPS accretive in year one, the company said.