Australian logistics company, Qube Holdings, has fully acquired Pinnacle Corporation, giving it a stronger foothold in the New Zealand market.
The Aotearoa-based group of companies provide container storage, handling and logistics and employ about 300 staff.
“This acquisition will see Qube’s brand presence grow in the New Zealand container logistics market, with significant longer-term organic growth opportunities, and builds on our existing port logistics presence,” said Qube Managing Director, Paul Digney.
In May, Qube made its first foray into New Zealand, securing 50 per cent stake in Pinnacle and fully acquiring specialist bulk logistics provider Kalari Proprietary.
Along with the full acquisition of Pinnacle, Qube has also taken over Western Australian company, Stevenson Logistics, an established container transport and logistics operator located in the port precinct of North Fremantle. The move, Digney said, would expand the company’s exposure to the hay and agriculture export market in Western Australia.