Two of the largest freight companies in the Asia Pacific region, VISA Global Logistics Pty Ltd (VISA) and Mondiale Freight Services Limited (Mondiale) have agreed to merge to form a $1.2bn business.
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 VISA and Mondiale will remain with the company as shareholders in their executive positions.
VISA 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.
“The Mondiale and VISA teams have very close synergies and are an excellent fit in the merged company,” Director and Shareholder of Mondiale, John Sargent said.
“Each company has grown globally over the last 30 plus years, with complementary global networks and a key focus on customer service,” Vittorio Tarchi, a Director and Shareholder of VISA Global Logistics said.
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. “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,” he said.