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Australia's largest freight company, Toll Holdings, has acquired New Zealand's United Carriers trucking company after the suitor recently sold its rail and ferry operations in that country.
The transport operator said it had signed a conditional purchase agreement for the trucking business, which had an annual turnover of about $NZ50 million ($A41.7 million).
"United is a very complementary acquisition for Toll. It expands our existing businesses in New Zealand into Northland where our presence was previously limited," Toll managing director Paul Little said in a statement.
United Carriers has a fleet of 220 trucks and services a number of industries, including livestock, logging, warehousing and international freight forwarding.
Toll said it would fund the purchase through working capital.
The transport operator this week sold its New Zealand rail and ferry operations to the New Zealand government for $NZ665 million ($A554.26 million) to focus on its goods-forwarding business in Asia.
© 2008 AAP
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