Brisbane-based transport company Eurocold continues its hot growth spurt with French giant Petit Forestier Group taking a majority shareholding in Australia’s biggest refrigerated rental fleet.
It’s the first entry into the Australian market for Petit Forestier Group, which only has two other interests throughout the southern hemisphere.
The majority of its foothold is on continental Europe with outlets in South Africa, the UAE and New York City.
Petit Forestier Group was founded in 1907 and is in 20 countries with over 300 sites, 80,000 vehicles on the road, 49,000 refrigerated display units, 5700 containers and has a team of more than 5600 employees globally.
The new arrangement with Eurocold comes as the Australian company continues its growth in Australia with a new expanded headquarters in the City of Logan, midway between Brisbane and the Gold Coast, Queensland.
“Petit Forestier Group’s expertise, their commitment to the industry and the priority they give to their employees all make this acquisition an ideal partnership,” said Eurocold CEO Avraam Solomon.
“Our knowledge of the Australian market combined with Petit Forestier Group’s experience will enable us to build on our position as a leader in the Australian market. Above all, it was important for me to go beyond a simple financial transaction, which was an obvious choice with Léonard Forestier [head of the group].”
Leonard Forestier said the Eurocold acquisition will accelerate the company’s growth internationally.
“Eurocold is a great entrepreneurial success story whose values – such as service and customer satisfaction – are in line with those of the Petit Forestier Group,” Forestier said.
“We are delighted to welcome the Eurocold team to the Group and add Australia and New Zealand to our expanding market position globally, especially in collaboration with Avraam, who has the talent and experience to develop our model in this market.”
Eurocold was founded in 2021 and specialises in the rental of refrigerated vehicles. Today, it has a fleet of 260 refrigerated vehicles and a growing, experienced team of 35 people.