The auction process for Scott’s Refrigerated Logistics is reported to be in overdrive right now.
On Monday it was announced that Scott’s Refrigerated Logistics entered voluntary administration and investment firm, KordaMentha, was tasked with finding a new owner for the business.
Australian Financial Review speculates major transport and logistics players including Toll, Linfox and Lindsay Australia might place their bids today.
In addition to its fleet of heavy vehicles, Scott’s also has a significant warehouse portfolio.
It is possible that the business in voluntary administration might see its warehousing sold separately from its other infrastructure and heavy vehicle assets.
Rather than striving for one sole owner, the business, under the direction of KordaMentha, could be divided among multiple parties.
The sale included the Rand, Harris, Scott’s and JAT businesses.
It is understood as part of this 2020 deal the Scott’s Refrigerated Logistics business was purchased for $75 million.
Update to follow.
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