Australia-based logistics provider Toll Group acquired U.S.-based freight forwarder Summit Logistics International.
With a large share of the trans-Pacific market, Summit generates annual revenue of around $265 million. Summit also generates approximately 30 percent of its revenue by providing extensive supply chain services to its customers within the United States.
“We have been investigating U.S.-based opportunities for some time and this is an important acquisition for the Group in the global forwarding market,” said Paul Little, Toll Group’s managing director.
“Integrating Summit into Toll Global Forwarding also improves Toll’s total supply chain capability in the U.S. market,” Little said.
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