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Toga acquires Toga

[ April 2, 2024   //   ]

Dublin-based Toga Freight Services has acquired the equity of Toga Customs Services.

Despite having similar names and working closely together for over 20 years, the two businesses have up to now operated separately and had different shareholders and directors.

However, Toga Freight purchased 100% of the shares previously held by Toga Customs directors, Martin Gately and Mark Herridge on 6 March, allowing them to leave the business.

Toga Freight Services was founded in 1978 by Peter Toner and Martin Gately (hence ‘Toga’)

The business was acquired by the current board consisting of Robert Dickinson, Muriel Corish and Darragh Toner through a management buy out in summer 2023 and has since embarked on an aggressive strategy of growth and development in new markets.

Managing director of both businesses, Robert Dickinson, 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.”

He added that in the next month Toga will open its first depot in the UK and had plans to enter joint ventures in mainland Europe and China before the end of the year. It also plans to grow by further acquisitions.

Financial director of Toga Group, Muriel Corish, added: “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.”

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