25 Mar 2011

Mainfreight expansion move approved

6:39 am on 25 March 2011

Mainfreight shareholders have unanimously approved a deal to expand into Europe.

The company is buying the Netherlands-based transport and logistics firm, Wim Bosman Group, for $205 million.

Wim Bosman has 14 branches across six European countries, and the purchase will be funded through bank debt.

Shareholders met on Thursday in Auckland to approve the deal, which they did without a single dissenting voice.

Mainfreight will become the owner of Wim Bosman on 1 April.

Shares in Mainfreight rose 11 cents to $8.79 on Thursday.