One of the largest private freight and logistics businesses in New Zealand is now on the stock market through a new acquisition.
Bethunes Investments shareholders voted on Tuesday to approve the purchase of Transport Investments Ltd.
The move will see Bethunes change its name to TIL Logistics Group Limited and its NZX ticker code to TLL.
Existing Bethunes directors will resign and be replaced by a new board of directors with industry and governance experience comprising Jim Ramsay, Trevor Janes, Lorraine Witten, Danny Chan and Greg Kern.
Current TIL chairman Jim Ramsay says he is “delighted” to be bringing the transport company to the public domain.
“This transaction secures the future of TIL as one of New Zealand’s leading domestic freight and logistics companies and we are looking forward to taking advantage of a range of genuine growth opportunities which are available to TIL,” he says.
The firm has branches, depots and warehouses throughout the country. TIL’s activities include transporting and warehousing freight and co-ordinating freight movements offshore with the assistance of international partners. Hooker Pacific and Roadstar are among its well known freight carriers.
TIL also has a specialist road tanker division which is one of the largest operators in the New Zealand fuel delivery market.
