By PAM GRAHAM
Toll Holdings, the Australian logistics company that has signalled an expansion in New Zealand, said this week that it was still looking at acquisition targets.
Toll said last May that it had a "growth platform" here following its purchase of BHP's stevedoring and transport business in New Zealand
and a majority stake in warehouse and distribution company Southern Distribution Centre.
Last month, Macquarie Equities identified Mainfreight, Tranz Rail's Distribution Services Group and Owens Group as potential targets.
Expansion in New Zealand was "a process that is not well-advanced at the moment," said Paul Little, Toll's managing director.
Toll is a trucking company that has expanded into rail, ports and logistics by acquisitions.
It has a rail joint venture with Patrick Corporation.
"We wouldn't rule out anything," Little said about New Zealand, but he added that any purchase had to be considered in conjunction with Toll's other operations.
This meant considering customers on both sides of the Tasman.
The Southern Distribution Centre includes Lion Nathan among its customers.
Toll reported a first-half net profit of A$56.3 million ($61 million) and its only comment on New Zealand was that its businesses were performing well and providing the company with future growth opportunities.
Mainfreight has said it is not for sale, while Owens is currently selling its Hirepool business.
Tranz Rail's Distribution Services Group operates the Tranz Link brand and offers supply chain management, domestic and international distribution, freight handling, logistics and warehousing.
Tranz Rail is selling passenger businesses to focus on freight, and had general discussions with the Government last year on selling back the rail network. Those talks never traversed a specific proposal or price.
