VGL- Mondiale merger creates $1.2B business
Two of the largest freight companies in the Asia Pacific region, VGL and Mondiale Freight Services Limited (Mondiale) have agreed to merge to form a significant entity that will be a world leader in international transport and logistics.
The merged company will have a combined annual revenue of AUD1.2 billion, with operations across Australia, New Zealand, North Asia, South East Asia, Indian Sub-Continent, and Europe. Both companies have made significant investments in wharf transport in Australia and New Zealand and offer a total end-to-end supply chain solution in these two countries.
The founding seven executive shareholders of VGL and Mondiale will remain with the company as shareholders in their executive positions.
VGL and Mondiale currently handle over 500,000 containers and 25M kilograms of air freight per annum and employ more than 1,500 people globally, covering all aspects of freight forwarding, customs, wharf transport, and warehousing.
Director and Shareholder of Mondiale, Mr. John Sargent, said: “The Mondiale and VGL teams have very close synergies and are an excellent fit in the merged company”.
Mr. Vittorio Tarchi, a Director and Shareholder of VGL , said “Each company has grown globally over the last 30 plus years, with complementary global networks and a key focus on customer service”.
Mr. Ray Meade, who has operated in the global freight markets in both Australia and New Zealand for 30 years and managed Mondiale’s Australian operations for over eight years, will become the Chief Executive Officer of the merged group. He said, “The strength of the combined entity, supported by its extremely valued and dedicated staff will deliver significant advantage to both its existing and future customer base”.