Toll Group
An Australian logistics group providing contract logistics, freight forwarding, transport, warehousing and supply-chain services across the Asia-Pacific region and international trade lanes.
Last updated August 31, 2026
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Overview
Toll Group is an Australian logistics and freight-forwarding business whose origins date to 1888, when Albert Toll established a horse-and-cart coal-haulage operation in Newcastle, New South Wales. Over more than a century, the company developed from a regional carrier into a diversified transport and supply-chain group serving industrial, commercial, government and consumer customers. The business expanded through successive changes of ownership and a long program of acquisitions. National Minerals purchased Toll in 1959, and the operation later became part of the Peko Wallsend mining conglomerate. Peko Wallsend used Toll extensively for its own transport requirements, helping the carrier build a national presence. During the containerisation era, the business became Toll-Chadwick and expanded beyond Australia’s capital cities. Management acquired the company in 1986 under chairman Peter Rowsthorn and managing director Paul Little, after which Toll pursued a strategy of acquiring strategically located transport and logistics companies. Toll was listed on the Australian Securities Exchange in 1993. Its public-company period was marked by expansion into rail, road, shipping, express parcels, contract logistics and international freight forwarding. Important transactions included the acquisition of New Zealand transport operator Tranz Rail in 2003, SembCorp Logistics in 2006, BALtrans Logistics in 2008, Express Logistics Group and Logistic Distribution Systems in 2009, and several freight-forwarding businesses in the United States, Europe, the Middle East and Asia. These transactions gave Toll a broad Asia-Pacific network and a growing international forwarding business. Japan Post agreed to acquire Toll in 2015 as part of its plan to expand internationally and build a global logistics platform. Toll shareholders approved the transaction in May 2015, and Toll became a division of Japan Post while retaining its brand and Melbourne base. The group subsequently invested in regional logistics infrastructure, including Toll City in Singapore, a large multi-storey logistics facility. Toll’s current activities are principally organised around contract logistics and global freight forwarding. Contract logistics includes warehousing, transport, distribution, automated-warehouse design, e-commerce and omni-channel fulfilment, telematics-enabled bulk transport, and specialised logistics for healthcare, automotive, energy, retail, industrial, government and defence customers. Toll Global Forwarding provides air, ocean, road and project freight services, including door-to-door movements, out-of-gauge cargo, heavy haulage and complex supply-chain programs. Its forwarding network combines regional offices with agency relationships serving more than 150 markets. The group has also reshaped its portfolio. Its Australian and New Zealand Global Express business was sold to Allegro Funds in 2021 and subsequently rebranded Team Global Express. Toll retained its freight-forwarding and contract-logistics activities. In 2023, it acquired Australian uncrewed-aircraft operator ASQ and increased its ownership of the Dubai-based CWT-SML joint venture. In October 2024, Pel-Air was purchased from Regional Express Holdings. Toll therefore remains an active logistics group under Japan Post ownership, with major operations in Australia, Singapore and the wider Asia-Pacific region.
History
Toll began in 1888 in Newcastle, New South Wales, as Albert Toll’s horse-and-cart coal-haulage business. By the time of Toll’s death in 1958, the company operated truck fleets from five locations. National Minerals acquired the business in 1959, and it later became part of Peko Wallsend. The mining group’s reliance on Toll for domestic transport helped the carrier broaden its national footprint. The business later adopted the Toll-Chadwick name as its owners combined transport operations and developed containerised shipping capabilities. By the mid-1980s it had become one of Australia’s significant transport companies. In 1986, management acquired the company under Peter Rowsthorn and Paul Little. Their approach focused on buying smaller, strategically positioned transport companies and building a broader network. Toll became an ASX-listed company in 1993. It used its access to public capital to expand into logistics, freight forwarding and related transport sectors. The company completed or pursued a series of acquisitions in Australia, New Zealand, Southeast Asia, Greater China, the Indian subcontinent, Europe, the Middle East and North America. Its 2003 acquisition of Tranz Rail gave it a major New Zealand rail, road and ferry presence, although the rail network was subsequently returned to the New Zealand Government and Toll Rail was sold in 2008. The 2006 acquisition of SembCorp Logistics was a major international expansion, strengthening Toll’s presence in Southeast Asia, Greater China and India. Toll also acquired ST Logistics in Singapore, which provided logistics support in healthcare, defence and homeland security. Further purchases included BALtrans Logistics, Express Logistics Group, Logistic Distribution Systems, Summit Logistics, WT SeaAir, Genesis Forwarding and SAT Albatros. These deals expanded Toll Global Forwarding’s geographic coverage and air-sea freight capabilities. In 2015, Japan Post acquired Toll after shareholders approved the transaction. Toll remained headquartered in Melbourne and kept its brand. Under Japan Post ownership, it continued investing in Asia-Pacific logistics, including the Toll City facility in Singapore. The group later reorganised its portfolio and divested its United States logistics business while retaining freight-forwarding activities. Its Australian and New Zealand Global Express operation was sold to Allegro Funds in 2021 and became Team Global Express. Toll’s present business is centred on contract logistics and global freight forwarding. The company provides warehousing, transport, distribution, project logistics, international air and ocean freight, e-commerce fulfilment and specialised supply-chain services. It serves commercial and government sectors including retail, grocery, healthcare, automotive, industrial, energy, defence and other infrastructure-intensive industries. Recent portfolio moves include the acquisition of ASQ, an Australian uncrewed-aircraft operator, an increased stake in CWT-SML in Dubai, and the 2024 acquisition of Pel-Air.
- 2024
Pel-Air acquisition
[1]Toll purchases Pel-Air from Regional Express Holdings.
- 2023
ASQ acquisition and CWT-SML ownership increase
[1]Toll expands into uncrewed-aircraft logistics and increases its stake in a Dubai joint venture.
- 2021
Global Express sold
[1]Toll sells its Australian and New Zealand Global Express business to Allegro Funds.
- 2017
Toll City investment
[1]Toll invests in a major multi-storey logistics facility in Singapore.
- 2015
Japan Post acquisition completed
[1]Toll becomes a division of Japan Post while continuing to trade under the Toll brand.
- 2006
SembCorp Logistics acquired
[1]The acquisition materially expands Toll’s logistics network across Southeast Asia, Greater China and India.
- 2003
Tranz Rail acquired
[1]Toll acquires New Zealand rail, road and ferry operator Tranz Rail and later operates its rail activities as Toll Rail.
- 2001
Finemore Holdings transaction completed
[1]After an initial takeover attempt failed to reach the required acceptance level, a scheme of arrangement enabled Toll to complete the transaction.
- 1998
IPEC joins Toll
[1]Toll acquires IPEC and rebrands the express-freight business as Toll IPEC.
- 1993
ASX listing
[1]Toll is listed on the Australian Securities Exchange.
Products and positioning
Integrated, industrial and enterprise-focused logistics partner, with particular strength in Asia-Pacific contract logistics, international freight forwarding and complex supply-chain operations.
International freight forwarding
Toll Global Forwarding
Toll Global Forwarding manages international air, ocean and related freight movements. Services range from airport-to-airport and port-to-port shipments to door-to-door forwarding, project cargo, heavy haulage and out-of-gauge movements. The business is headquartered in Singapore and operates through regional divisions covering Australia and New Zealand, Asia, Europe, the Middle East and Africa, and North America, supported by offices and agents serving more than 150 markets.
Supply-chain management
Contract logistics
Toll’s contract-logistics operations combine warehousing, transport, inventory handling, distribution and supply-chain management. The service is adapted for sectors such as retail, grocery, healthcare, automotive, industrial goods, energy, government and defence. Capabilities include automated-warehouse design, e-commerce and omni-channel fulfilment, specialised transport, and technology-enabled fleet and bulk-transport management across Asia-Pacific.
Specialised logistics
Project logistics
Project logistics supports complex movements involving oversized, heavy, high-value or unusual cargo. Toll coordinates freight forwarding, transport planning, warehousing, customs-related movements and specialised equipment for industrial, energy, infrastructure and government customers. The offering is designed for shipments that require non-standard routing, capacity planning or integration across multiple transport modes.
Emergency logistics and aviation services
Toll Helicopter ambulance rescue services
Toll operates helicopter ambulance and rescue services in Australia. This activity extends the group beyond conventional freight and warehousing by applying aviation operations, specialist crews and emergency-response logistics to medical evacuation and rescue work.
Logistics infrastructure · 2017
Toll City
Toll City is a large multi-storey logistics facility in Singapore. Developed as part of Toll’s Asia-Pacific infrastructure investment, it supports warehousing, distribution and integrated supply-chain activity in a major regional trade and transport hub.
Brand decisions
2024
Acquire Pel-AirM&ABackground
Toll continued developing logistics and aviation-related capabilities.
Action taken
Pel-Air was purchased from Regional Express Holdings.
Aftermath
The transaction added Pel-Air to Toll’s broader logistics portfolio.
2023
Expand into specialised and emerging logistics capabilitiesStrategyBackground
Toll continued broadening its logistics portfolio beyond conventional road, ocean and warehousing services.
Action taken
The group acquired ASQ, an Australian uncrewed-aircraft-systems operator, and increased its ownership in the Dubai-based CWT-SML joint venture.
Aftermath
The moves expanded Toll’s exposure to aviation-enabled and specialised logistics services.
2021
Divest Global ExpressM&ABackground
Toll reviewed its portfolio and separated its Australian and New Zealand express and transport operation from its retained forwarding and contract-logistics businesses.
Action taken
Toll sold Global Express to Allegro Funds.
Aftermath
The divested business was renamed Team Global Express, while Toll focused on freight forwarding and Asia-Pacific contract logistics.
2015
Accept Japan Post takeoverM&ABackground
Japan Post wanted to accelerate international logistics growth and broaden its presence across Asia.
Action taken
Toll’s board accepted Japan Post’s proposal, and shareholders approved the acquisition in May 2015.
Aftermath
Toll became a Japan Post division while retaining its name, brand and Melbourne headquarters.
2006
Acquire SembCorp LogisticsM&ABackground
Toll pursued a major expansion of its international logistics and freight-forwarding network.
Action taken
Toll acquired SembCorp Logistics, strengthening coverage in Southeast Asia, Greater China and the Indian subcontinent.
Aftermath
The transaction became a major platform for Toll’s Asia-Pacific logistics growth.
2003
Acquire Tranz RailM&ABackground
Toll sought to expand its New Zealand transport platform through the acquisition of Tranz Rail, a rail, road and ferry operator.
Action taken
Toll acquired Tranz Rail and subsequently operated the rail activities as Toll Rail.
Aftermath
The rail network was later sold to the New Zealand Government in 2008, while Toll’s trucking operations continued separately.
Recent events
Toll Group reports annual net loss[3]
Reported:
Toll Group’s annual financial accounts revealed a net loss of $1.1 billion for the year ending March 30.
Sources3 sources
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