News / Toll sells express division to PE fund Allegro, which pledges A$500m injection

Troubled Australian logistics operator Toll Group is set to sell its express division to Australian private equity house Allegro Funds for a reported A$10m, leaving the country’s largest 3PL with forwarding and contract logistics operations.

Although neither Toll nor Allegro confirmed the size of the deal, Loadstar Premium revealed that Toll Group owner Japan Post, which bought the company for A$6.5bn (US$5.1bn) in 2015 and was forced to write off A$4.7bn two years later, has disclosed net proceeds of $7.8m from ...