ECL accepts TIL bid for freighting company Roadstar
Express Couriers Ltd (ECL) a wholly owned subsidiary of New Zealand Post Group Ltd has agreed to sell its freighting business Roadstar to Transport Investments Ltd (TIL), effective from 1 March this year.
Roadstar, which has been owned by ECL since 2007, specialises in delivering pallets of stock to major retailers throughout New Zealand.
TIL is already a major player in this type of freighting through wholly owned subsidiaries such as Hooker Pacific and TNL. TIL saw the acquisition of Roadstar as a natural fit with its growth strategy, and so it approached ECL with an offer for Roadstar.
New Zealand Post chief executive Brian Roche says the sale makes sense for all parties involved.
“TIL is an established and respected freighting operator, and this change in ownership will enable them to bring that considerable expertise in freighting to Roadstar,” Mr Roche said.
“At the same time this enables ECL to focus on its core activity; express parcel pickup and delivery, at which it is a market leader,” Brian Roche said.
It will be business-as-usual when TIL take over the running of Roadstar in March, with the Roadstar management team and staff remaining intact, and no variations required in contracts with customers. ECL and TIL will maintain an on-going relationship to ensure a seamless transition for all customers of both companies.