Allegro Funds and Global Express are ready to deliver

Global Express has today announced that Allegro Funds, Australia’s most awarded transformation and turnaround private equity firm, has completed the acquisition of Global Express from Toll Group and parent company Japan Post, having secured $500m in capital to invest in the business to underpin our future. 

The completion of the sale follows on from the finalisation of regulatory approvals and other customary closing conditions. To align with Allegro’s acquisition, Christine Holgate has today started her tenure as Toll Global Express Group Chief Executive Officer.

Ms. Holgate commented, “It is a privilege to be joining as the Group Chief Executive Officer, and I am honoured to be a part of the Toll Global Express team and lead the company’s transformation”.

“I recognise that we have a lot of hard work ahead of us to improve our service promise to our customers and ensure our business has a sustainable future. Please be assured the team and I are absolutely committed to doing this”. 

“As we look to the future, with investment support from Allegro Funds and the passion and determination of our teams, I believe we have a unique opportunity to build on our heritage and create a superior national logistics partner.”

Under the terms of the sale, Allegro will operate the Global Express business under the Toll brand for a two-year transitional period.

Toll Global Express wishes Toll Group and Japan Post well as they continue their focus on the Asia-Pacific.