The Toll Group has announced it has acquired the remaining 49 percent of its Chinese joint venture Shenzhen-based ST-Anda Logistics from China Merchants Group.
ST-Anda has warehouses and depots in more than 30 cities and a distribution network covering more than 1,500 cities across China.
"The Toll Group has for some time considered our Chinese logistics operations to be of strategic significance to Toll’s international business. We now have operations in over 50 countries globally and China is a critical element of our growth strategy” said Toll Group Managing Director Paul Little.
The acquisition remains subject to Chinese regulatory approvals which could take up to six months to obtain.
Toll has not disclosed the cost of the deal.