This article is from the Australian Property Journal archive
LINFOX is set to increase its annual revenue to over $2 billion following the takeover of Westgate Logistics in Melbourne.
Westgate predominantly provides warehousing services to a blue chip customer base and currently manages 11 distribution centres around Australia.
Linfox’s chief executive Michael Byrne said the acquisition will provide Linfox with sizable growth and cements Linfox’s position as a major operator of warehousing in Australia and one of the leading suppliers of logistics to the retail and FMCG sectors in the Asia Pacific region.
“This is a major acquisition that increases Linfox’s annual revenue to over $2 billion by adding to Linfox’s core areas of expertise in distribution centre management and transport.” he added.
Linfox’s founder Lindsay Fox said the acquisition is in line with Linfox Logistics’ strategic growth plan and follows the purchase of FCL in August last year and Provincial Freightlines in May this year.
“It is Linfox’s third acquisition in a year. We now have over 13,000 employees and operate in 11 countries across the Asia Pacific region.” he added.
Westgate founder Sam Tarascio will work with the Fox family to ensure the smooth integration of Westgate with Linfox.
“Westgate Ports which will be retained by Tarascio will continue to support Linfox with wharf, dockside warehousing and stevedoring services,” Byrne said.
In addition, the Fox and Tarascio families will explore other ways that they might work together.
Australian Property Journal