DHL Supply Chain has now finalised the acquisition of the Glen Cameron Group, following the agreement to purchase the logistics company last month.
The acquisition promises to create one of the largest logistics companies in Australia with a combined revenue of over $1 billion, and is expected to strengthen DHL’s position in the evolving Australian road freight market.
Talks between the two companies regarding an acquisition had started nearly ten years ago. However, discussions recommenced nearly 12 months ago with an agreement reached recently in which DHL Supply Chain would take control of the Glen Cameron Group on 31 July.
DHL Supply Chain CEO Australia and New Zealand, Steve Thompsett, was pleased to confirm the completion of the acquisition yesterday afternoon.
“I am pleased to confirm that the acquisition of the Glen Cameron Group is now complete,” he said.
“This milestone signals a new chapter of growth in the Australian transport industry. I’m looking forward to getting out and about to meet the wider Cameron team and to get to know the operations.
“Thank you to Glen and his team for the strong foundation they have built over the last five decades.”
The Glen Cameron Group will benefit from DHL’s large-scale network in over 220 countries and global forwarding expertise in air, ocean and road freight to ensure strong development opportunities for the business, its customers, and its employees.