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Mainfreight

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Mainfreight Limited
FormerlyMainfreight Transport Limited
Company typePublic
NZX: MFT
IndustryLogistics
Founded6 March 1978 (6 March 1978)
FounderBruce Plested
Headquarters
Auckland
,
New Zealand
Number of locations
336 (2024)
Area served
27 countries
Key people
Bruce Plested (Chairman, Founding Owner)
Don Braid (Global Managing Director, CEO)
ServicesTransport, Logistics, Freight Forwarding, Supply Chain Management
Revenue
  • Decrease NZ$4.72 billion (2024)
  • Decrease NZ$395 million (2024)
Number of employees
10,664 (2024)
SubsidiariesDaily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), Mainfreight Americas (USA), Mainfreight Asia, Mainfreight India
Websitewww.mainfreight.com
Footnotes / references
[1]


Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland, New Zealand. Mainfreight commenced operations in Auckland in 1978 and is the country's largest logistics company. It has been listed on the New Zealand Exchange since 1996.

History

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Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck.[2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland.[3][4]

When the company was founded it entered a highly regulated transport market. A licence from New Zealand Railways Corporation was needed to carry freight over 150 km.[5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Whilst describing the foundation of Mainfreight in 2000, Plested said to the New Zealand Herald, "We moved all our freight by sea between Auckland, and Christchurch and Dunedin, and we worked weekend shifts to make sure we loaded and unloaded the ship using the whole of the seven days - we found that was faster and more reliable than our big competitors."[4]

Subsidiaries

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Mainfreight Australia

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The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney.[4] This operation was expanded with depots in Melbourne and Brisbane. It now has 22 company depots and 74 branches in Australia. They have formed partnerships with agents and third parties in the Northern Territory, Tasmania and some of regional Australia.

Mainfreight International

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Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand.

Mainfreight USA

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Mainfreight started operating in the United States after its purchase of CaroTrans International in 1999 and expanded in 2007 from the acquisition of Target Logistics. [6]

In 2008, 34 United States locations were re-branded as Mainfreight USA. The Mainfreight Americas network has grown now to having 79 branches located throughout Canada, Mexico, United States, and Chile.[2] In 2023 the Mainfreight USA transportation sector set a new milestone by obtaining their Motor Carrier Authority license leading them to expand their LTL (Less-than-Truckload) ground shipping operations.[7]

Mainfreight Asia

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After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. Mainfreight’s newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries.

Mainfreight Europe

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In 2011, they acquired the business of Wim Bosman Group providing further opportunities to expand their international global presence with branches located throughout Europe.[6] Mainfreight branches are located throughout France, Poland, United Kingdom, Germany, the Netherlands, Romania, Spain, Italy, and Belgium.

In 2022 due to the political conflicts and sanctions in place between Russia and Ukraine, Mainfreight suspended all domestic operations in the two territories.[8]

Acquisitions

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Halford International

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On 11 June 2007, Mainfreight Limited signed a call option deed to acquire all of the shares of Halford International Pty Limited (Halford International), an Australian-based, privately owned, international freight forwsarder and logistics provider. The purchase acquired network offices throughout Australia and New Zealand, Japan, Germany, Asia, and the United States.[9]

Owens Group

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In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms.[10] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International).

Wim Bosman Group

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In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for €120 million; or $227 million.[11]

Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia.[12]

Within its announcement, Mainfreight stated, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world."[11]

In June 2013, Mainfreight launched a lawsuit seeking €11 million or $18 million against Wim Bosman Group's former owners. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group.[13] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of €8.2 million or $14 million.[14]

Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Poznań/Luboń in Poland. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[15]

Others

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Lep New Zealand

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Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997.[4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business.

In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million.[16] The transaction was completed on 6 June 2007.[17]

Target Logistics

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In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[18]

CaroTrans South America

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In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. This endeavor launched the first permanent investment into South America.[19] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile.

DCB International

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In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees.[20]

References

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[21] [22]

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[2]

[2]

  1. ^ "Annual Report 2024" (PDF). Mainfrieght. 25 June 2024. Retrieved 12 October 2024.{{cite web}}: CS1 maint: url-status (link)
  2. ^ a b c d "Annual Report 2023 - Mainfreight Limited" (PDF). Mainfreight. 27 June 2023. Retrieved 11 September 2024.
  3. ^ Gibson, Nevil (1 October 2015). "Mainfreight co-founder Neil Graham dies". The National Business Review. Retrieved 30 January 2017.
  4. ^ a b c d De Boni, Dita (30 June 2000). "Mainfreight always moving forward". New Zealand Herald. NZME Publishing. Retrieved 30 January 2017.
  5. ^ "Road transport regulation a controversial measure to protect railways". KiwiRail. Retrieved 30 January 2017.
  6. ^ a b "Mainfreight's History". www.mainfreight.com. Retrieved 12 October 2024.
  7. ^ "Mainfreight Transport - Motor Carrier Authority". www.mainfreight.com. Retrieved 12 October 2024.
  8. ^ "Situation in Ukraine and Russia". www.mainfreight.com. Retrieved 12 October 2024.
  9. ^ "Mainfreight announces agreement to acquire Halford International". Mainfreight. 11 June 2008. Retrieved 30 January 2017.
  10. ^ Company Profile Owens
  11. ^ a b "Mainfreight breaks into Europe with $227m acquisition". The New Zealand Herald. NZME Publishing. 7 March 2011. Retrieved 30 January 2017.
  12. ^ Adams, Christopher (8 March 2011). "Mainfreight sets course for Europe". The New Zealand Herald. NZME Publishing. Retrieved 30 January 2017.
  13. ^ Adams, Christopher (26 June 2013). "Mainfreight sues for $18m after shock client loss". The New Zealand Herald. NZME Publishing. Retrieved 30 January 2017.
  14. ^ "Mainfreight gets $14m payout - drops Euro claim". The New Zealand Herald. NZME Publishing. 26 August 2013. Retrieved 30 January 2017.
  15. ^ "The Wim Bosman Group becomes Mainfreight". Meinfreight News. Meinfreight Limited. 21 November 2016. Retrieved 30 January 2017.
  16. ^ "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million". www.mainfreight.com. Mainfreight NZ. Retrieved 30 January 2017.
  17. ^ "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics". www.mainfreight.com. Mainfreight NZ. Retrieved 30 January 2017.
  18. ^ Henning, Paul (17 September 2007). "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited". Business Wire. Retrieved 30 January 2017.
  19. ^ Adams, Chrisitopher (27 May 2011). "Mainfreight dips toes into Chile". The New Zealand Herald. NZME Publishing. Retrieved 30 January 2017.
  20. ^ Hartley, Simon (12 November 2014). "Mainfreight buys Dunedin firm". Otago Daily Times. Allied Press. Retrieved 30 January 2017.
  21. ^ Cite error: The named reference :1 was invoked but never defined (see the help page).
  22. ^ "Annual Report 2024" (PDF). Mainfreight. 25 June 2024. Retrieved 12 October 2024.{{cite web}}: CS1 maint: url-status (link)
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