Toga Freight Services Ltd has acquired the equity of Toga Customs Services Ltd. Despite having similar names and working closely together for over 20 years, the two businesses have always operated separately and had different shareholders and Directors.
However, on March 6th, 2024, Toga Freight purchased 100 per cent of the shares previously held by Toga Customs Directors, Martin Gately and Mark Herridge, allowing them to leave the business.
Toga Freight Services was founded in 1978 by Peter Toner and Martin Gately, hence the name “Toga”, being a combination of the start of their surnames. The business was acquired by the current board consisting of Robert Dickinson, Muriel Corish and Darragh Toner via a management buy out in the summer of 2023. Since then, the business has embarked on an aggressive strategy of growth and development in new markets.
Speaking of the acquisition, Robert Dickinson, Managing Director of both businesses commented: “Toga Customs have always felt like a part of our Toga Family, but the acquisition now opens exciting growth and development opportunities for that business to connect with our global partners and to rapidly grow. Since the MBO last year, Toga Freight have joined System Alliance Europe and have connected with several new partners and agents across the world, all of whom have a requirement for customs clearance in Ireland.” Dickinson went on to say: “The combined group will continue to expand. In the next month Toga will be opening our first depot in the UK and we have plans to enter joint venture agreements and put feet on the ground in mainland Europe and China before the end of the year. We also plan to grow by further acquisitions – so very exciting times for the new larger Toga Family”.
Muriel Corish, Financial Director of Toga Group said: “The two businesses have always worked side-by-side, but the growth of Toga Freight needs a fully integrated customs business in order to maximise the opportunities that exist for us, we’re delighted the Toga Customs staff are now formally a part of our family”.
