Toll Group's Meier talks up 'strategic roadmap to 2025'
Marc Meier, global head of ocean freight at Toll Group, writes on LinkedIn: (Very slightly edited ...
PRESS RELEASE
Deal unlocks over 4.1 million square feet of Tier 1 distribution space, creating key efficiencies.
ISELIN, N.J., Dec. 17, 2020 /PRNewswire/ — Taylored Fulfillment Services, a national leader in distribution, fulfillment, eCommerce and warehousing, today announced it has closed its acquisition of the US operations of Toll Global Logistics, the $8.7 billion Australian logistics company. The deal triples the company’s footprint in key distribution metros while boosting Taylored’s position as a Top 100 3PL provider in the US.
Taylored’s Chairman Jonathan Rosenthal said that “by combining Toll’s port-centric operations and Taylored’s e-Commerce fulfillment centers in gateway markets, the acquisition will unlock substantial efficiencies. The consolidation will produce a network effect of other streamlined processes.” With enhanced service offerings including omni-channel retail, wholesale and e-Commerce fulfillment, cross-dock / transloading services, value added services and transportation solutions, Taylored has expanded its’ full-service port-to-door supply chain solutions.
“Toll has closed an agreement to sell our US logistics operations which includes warehousing and trucking operations nationally to Taylored. The sale will allow Toll to focus on our core growth markets across the Asia Pacificregion,” said Peter Stokes, President Toll Global Logistics.
“We pride ourselves on being growth oriented, performance driven, and customer focused. Our mission is to service our customers by leveraging our logistics expertise, continued investment in technology, and a network of strategically located facilities to bring down our customers’ costs and shorten their delivery times in this rapidly escalating direct to consumer retail environment,” said Jim DeVeau, President and CEO of Taylored Services Parent Co., Inc.
ABOUT THE ACQUISITION
Joseph DeSaye, a founding member of FMI International, and Taylored, joined together to acquire the US operations of Toll Global Logistics. Founded nearly thirty years ago, Taylored Services has grown to be an award-winning Top 100 3PL. FMI International, founded in 1979 by Ernest DeSaye, began with freight forwarding from the country of manufacture, primarily Asia, into the United States with a wide variety of services including trans-loading, distribution center bypass, warehousing, pick-and-pack and local and long-distance transportation prior to their sale to KRG Capital in 2003 and eventually to Toll Group in 2010.
To read the full release, please click here.
We covered the deal in mid-September, when it was announced internally at Toll but back then we didn’t know the identity of the buyer. Our previous coverage is here:
M&A radar: Toll Group sells US parts, as divestment campaign begins…
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