The Toll Group, the provider of integrated logistics in Asia, has agreed to take over Footwork Express, the Japanese express freight operator.
It is currently waiting for regulatory approval. Footwork Express employs more than 5,000 people, has revenue of some A$775 million and is one of the top ten domestic logistics providers in Japan.
Toll has held a minority stake in the business since April 2006 and managing director Paul Little said: “The control that we will gain from the acquisition of the remaining equity will allow us to make the operational changes needed to secure the future success of Footwork within Japan and the region.
“The Toll Group’s range of express service providers includes Toll IPEC, Toll Priority, Toll Express and NQX Freight System.
“I am delighted that Pat Kearns who led the Toll IPEC transformation has agreed to head up Toll’s presence in Japan and will be working closely with Footwork’s senior management and customers,” said Little.