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Toll Acquires Poultry Transport Business

by 5m Editor
24 December 2010, at 12:30a.m.

AUSTRALIA - Toll Group has acquired McLaughlin Freightlines (MFL), a specialist poultry transport business.

Toll Group the Asian region's leading provider of integrated logistics solutions has divested the majority of its 16.6 per cent interest in Shenzhen Chiwan Petroleum Supply Base (SCP) and acquired the business assets of McLaughlin Freightlines (MFL) a specialist transport provider to the Australian poultry industry.

McLaughlin Freightlines is a family-run business in the rapidly expanding poultry transport sector. It services Baiada, Turi Foods, McKeys and others in the sector.

Paul Little commented on the deal: "MFL is a highly strategic acquisition adding strength to our existing Toll Refrigerated, Toll SPD and Toll QRX rail businesses."

MFL generates annual revenue of A$20 million. The Group paid an enterprise value of approximately A$25 million and expects the acquisition to be earnings per share positive in its first year.