Toll Holdings Ltd
(ASX:TOL) has acquired UK-based freight forwarding companies WT Sea Air Group and Genesis Forwarding Group for $150 million.
Toll says WT is expected to generate revenue this year of around $170 million and Genesis is expected to generate around $80 million.
The company says the acquisition of WT Sea Air and Genesis will generate over $250 million in revenue.It is also expected to be earnings per share accretive in year one, based on the combined purchase price of $150 million.
Toll has also announced that it has completed the sale of its 50% interest in the Pacorini Toll Joint Venture to the Pacorini Group.
Toll Holdings reported a net profit of $270.3 million for the year ending 30 Jun 2009.
