Lindsay Australia is expanding its national footprint with the $108.2 million acquisition of Tasmania’s largest refrigerated transport company, SRT Logistics.
The ASX-listed transport and logistics provider announced the deal on 13 May, confirming it will acquire 100 per cent of SRT Logistics through a mix of cash and equity. The agreement includes a $57.2 million cash payment and the issue of 46.5 million Lindsay shares, giving SRT’s current owners – the Miller family – a 12.8 per cent stake in Lindsay Australia.
SRT Logistics, founded in 1996, operates four distribution centres and two satellite facilities across Tasmania, Victoria, New South Wales and Queensland. The business services major supermarket and foodservice providers and is forecast to deliver an EBIT of $14.6 million in FY25.
Lindsay Australia Managing Director and CEO Kim Lindsay said the acquisition was a strong strategic fit, adding SRT would enhance the company’s national refrigerated logistics capabilities.
“This is a transformational transaction that brings Tasmania into our network and strengthens our ability to deliver end-to-end cold chain services via road, rail and sea,” Lindsay said.
As part of the acquisition, SRT CEO Robert Miller will join the board of Lindsay Australia as an executive director. SRT will continue to operate under its existing brand as a wholly owned subsidiary.
The transaction is subject to regulatory approvals and is expected to be completed by 30 June 2025.
Lindsay Australia said the move supports its broader growth strategy and reflects ongoing demand for temperature-controlled transport across Australia’s food and beverage sectors. The company operates more than 1,000 vehicles and 20 logistics facilities across the country.