Linfox today announced that it has entered into an agreement to purchase Westgate
Logistics (Westgate) which is based in Melbourne, Victoria.
Linfox Logistics CEO, Michael Byrne says the acquisition will provide Linfox with
sizable growth.
“This acquisition 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,” Byrne says.
“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.”
“Westgate is a successful privately owned logistics business that predominantly provides warehousing services to a blue chip customer base. Westgate manages 11 distribution centres around Australia with a dedicated fleet and over 1,200 employees.”
“The acquisition provides a strong fit with our growth strategy of identifying strategic acquisitions in addition to driving organic growth,” Byrne says.
“Westgate provides excellent opportunities for organic business growth with existing Westgate customers, particularly in the retail sector. Its key customers are major Australian retailers that complement and expand Linfox’s existing customer base.”
“The combined Linfox Westgate business will offer customers a broad range of supply chain solutions that will accelerate Linfox’s growth prospects.”
According to Linfox founder, Lindsay Fox 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,” Fox says.
Westgate founder, Sam Tarascio, welcomed the merging of the two businesses. “Both companies share a commitment to our customers and outstanding service,” he says. “We are proud of what we have achieved and look forward to the growth of our combined business.”
“Mr Tarascio will work with the Fox family to ensure the smooth integration of Westgate with Linfox,” says Michael Byrne. “Westgate Ports which will be retained by Mr Tarascio will continue to support Linfox with wharf, dockside warehousing and stevedoring services.”
In addition, the Fox and Tarascio families will explore other ways that they might work together.