VISA Global Logistics and Mondiale Freight services are merging to form a significant entity in the Asia-Pacific freight space.
According to a statement from the companies, the merged company will have a combined annual revenue of $1.2 billion, with operations across Australia, New Zealand, North Asia, South East Asia, the Indian Sub-Continent and Europe.
Both companies have made significant investments in wharf transport in Australia and New Zealand and offer a total end-to-end supply chain system in these two countries.
The founding seven executive shareholders of Visa and Mondiale will remain with the company as shareholders in their executive positions.
Visa and Mondiale currently handle 500,000 containers per annum and employ more than 1500 people globally.
Mondiale director and shareholder John Sargent said, “The Mondiale and Visa teams have very close synergies and are an excellent fit in the merged company”.
Visa director and shareholder Vittorio Tarchi said, “Each company has grown globally over the last 30 plus years, with complementary global networks and a key focus on customer service”.
Ray Mead will become CEO of the merged group. He has operated in the global freight markets in both Australia and New Zealand for 30 years and managed Mondiale’s Australian operations for more than eight years.
“The strength of the combined entity, supported by its extremely valued and dedicated staff will deliver significant advantage to both its existing and future customer base,” Mr Mead said.