Freight companies VISA Global Logistics and Mondiale Freight Services Limited have agreed to merge to form a significant entity in international transport and logistics.
The merged company will reportedly have a combined annual revenue of $1.2 billion AUD (approx. €775 million), 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 500,000 containers 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,” said Mondiale Director and shareholder, John Sargent.
“Each company has grown globally over the last 30 plus years, with complementary global networks and a key focus on customer service,” said VISA Global Logistics Director and shareholder, Vittorio Tarchi.
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 CEO 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.” said Meade.