|Transaction:||Acquisitions,Public Defence and Takeovers|
|Deal value:||EUR 64 million (EV)|
|Industry:||Logistics and commercial services|
EAC comprises two strategic businesses, a food & beverage business in Venezuela (Foods) and a moving & relocations business (EAC Moving & Relocation Services). EAC Moving & Relocation Services provides a broad range of service offerings within moving, value-added relocation and records management to corporate and individual clients in Asia and the Middle East – and to the rest of the world through a global network of partners.
Wridgways traces its history back to 1892 and has grown to become Australia's leading moving and relocation company. Wridgways has built a strong reputation for setting international benchmarks in household and commercial relocations and manages removals throughout Australia for a large number of domestic, corporate and government organisations, offering comprehensive solutions in the fields packaging, storage and removal. Headquartered in Melbourne, Wridgways has a strong presence throughout Australia with 30 offices and 470 employees.
The strategic fit between Santa Fe and Wridgways is attractive. Santa Fe's strategy is to expand its activities geographically to provide corporate clients around the world with complete Asia-Pacific coverage. Australia constitutes an important market, and Wridgways, who has been a trusted business partner for 20 years, is the market leader in Australia. In terms of both values, culture, clients and service concepts, a combination of the two businesses offers attractive synergies and new business opportunities across the region.
Wridgways is the third major transaction by EAC within only 7 months.