Mainfreight acquires Target Logistics for $53.7m
Mainfreight acquires Target Logistics for $53.7m In its largest acquisition to date, Mainfreight has signed a definitive merger agreement to acquire Target Logistics in an all-cash transaction valued at approximately $53.7 million. Selon Eyefortransport (http://www.eyefortransport.com ) Founded in 1978, Mainfreight is a global logistics services provider with operations in New Zealand, Australia, Asia and the US. The company posted revenues of NZ$968 million for the year-ended March 31, 2007. Target Logistics provides domestic and international time-definite freight forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. The company has a network of offices in 35 cities throughout the US and a worldwide agent network covering more than 70 countries, including China and other countries in Southeast Asia. According to Target president & CEO Stuart Hettleman, the combined and complementary resources of the two organisations will afford greater