Toyota Industries Corp (TICO), the parts and assembly affiliate of Japan's largest carmaker, said it has acquired Dutch baggage and parcel handling equipment manufacturer Vanderlande Industries Holding BV for €1.16 billion (US$1.25 billion) to expand its product-line beyond forklifts.
In a statement, the Japanese company said it aims to complete the acquisition of closely held Vanderlande by the first quarter of next year. The Dutch company had about 130 billion yen (US$1.17
billion) in net sales last year, has 50 sites globally and 4,500 employees, the release stated.
The Veghel, Netherlands-based companies said the transaction is part of TICO’s “strategic ambition to increase its presence in automated material handling.” It follows the recently announced expansion in North America with the acquisition of Bastian Solutions, which develops software to control handling systems at logistics centers, for about US$260 million.
Strong strategic match
Norio Wakabayashi, managing officer for TICO and the designated chairman of Vanderlande’s Supervisory Board, said: “Vanderlande complements our current offering by providing a full range of integrated automated material handling solutions. We also see a strong strategic match in our extensive sales and service networks. This acquisition creates even better global coverage across almost all of the markets that have a requirement for automation.”
Vanderlande considers itself to be the global market leader for value-added logistic process automation at airports and in the parcel market, as well as being a leading supplier for warehouses.
The takeover has been approved and supported by Vanderlande’s Supervisory and Management Boards, and Works Council. Vanderlande will retain its name and corporate identity, as well as continue its operations as a standalone entity from the same locations worldwide.
Nol van Fenema