Public company
In 1993, Toll was listed on the Australian Securities Exchange (ASX).[2]
After its listing on the ASX, Toll progressively built its reach and service capabilities via a program of strategic acquisitions. In the process, Toll expanded its operations in logistics and freight forwarding across the Asia-Pacific region.[3]
In June 2000 Toll Holdings launched a takeover offer for Finemore Holdings.[8] The bid was not successful with Toll only gaining a 68% acceptance when 90% was required, with Lindsay Fox using his 10.1% shareholding to veto the deal.[9] A scheme of arrangement, that only required 75% acceptance, was accepted with the transaction completed in March 2001.[10][11][12]
In 2003, Toll acquired New Zealand rail, road and ferry operator Tranz Rail, while selling the rail network to the New Zealand Government. Tranz Rail was later renamed Toll Rail. Toll then sold Toll Rail, without its trucking operation, to the government in 2008.
Toll’s acquisition of SembCorp Logistics (SembLog) in 2006 significantly increased Toll’s market presence and reach across South East Asia, Greater China and the Indian Sub-Continent.[13] In this period, Toll acquired ST Logistics, a standalone subsidiary business in Singapore, which supports the Singapore Government with logistics in healthcare, defence, and homeland security.[14]
In 2008 Toll acquired BALtrans Logistics.[15] In 2009 Toll acquired Express Logistics Group, one of New Zealand's largest freight forwarding companies. In the same year Toll acquired Logistic Distribution Systems, a Dubai-based international freight forwarding company.[16][17]
In 2010 Toll acquired United States freight forwarder Summit Logistics.[18] In 2010 they acquired WT SeaAir and Genesis Forwarding.[19] The acquisitions added significant scale to the Toll Global Forwarding division in Europe.
In 2011 Toll acquired SAT Albatros, a Dubai-based provider of sea-air services.[20]
By 2014, Toll had 40,000 team members across 1,200 locations in more than 50 countries, and annual revenue of $6.5 billion.[3]
Japan Post acquisition
On 18 February 2015, Toll's Board announced that it had accepted a proposal from Japan Post to acquire all of Toll's shares. Japan Post was looking to Toll to grow its global logistics operations and expansion across Asia.[21]
On 13 May 2015, Toll shareholders voted in favour of the acquisition.[22] On 28 May 2015, Toll formally became a division of Japan Post.[23] Toll remained headquartered in Melbourne and retained the Toll brand in Australia and around the world.
Toll continued to grow in Asia, investing AU$228 million in Toll City, a multi-story logistics facility in Singapore in 2017.[24]
In 2020, Toll divested its logistics business in the United States, maintaining its freight forwarding operations; and on 1 September 2021, the Toll Global Express business in Australia and New Zealand was sold to Allegro Funds and rebranded Team Global Express.[25]
