Toll Refrigerated had revenues of about $75 million and made a small operating loss in the financial year to June 30, 2012. The Toll Group is the Australia-based parent of a wide network of logistics companies. The company has been conducting strategic reviews of some of its businesses since May.
“Due to the challenging market conditions and margin pressure faced by this business, we concluded that, in this case, divestment was the best option,” said Brian Kruger, Toll Group managing director. “It is encouraging that we have been able to complete the review and conclude a positive result for both parties in such a short period of time.”
Toll said it will retain its other refrigerated transport and warehousing operations currently provided by other businesses within the group.
About 100 Toll staff will transfer to Automotive Holdings Group as part of the sale. – Eric Johnson
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now