New Zealand-based freight forwarder Mondiale VGL has initiated a sale process, aiming for a valuation surpassing NZ$1 billion ($602 million), informed sources disclosed. The company, formed in 2021 through the amalgamation of Mondiale Freight Services Ltd and VISA Global Logistics Pty Ltd, has engaged financial advisors to pursue potential buyers, predominantly focusing on private equity firms. Despite a previously proposed IPO not coming to fruition, Mondiale VGL is now actively seeking a sale, as confirmed by insiders who opted to remain anonymous. The company, with operations spanning New Zealand, Australia, Asia, Europe, and the U.S., boasts a significant workforce of over 1500 employees and recently solidified its presence in Southeast Asia through the acquisition of Interunion. No official response was immediately available from Mondiale VGL regarding this sale endeavor.
Mondiale VGL Initiates Sale Process, Targets $602M Valuation, New Zealand
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