The buyout, effective July 31, will mean the combined business will have a revenue of more than $1 billion.

It gives DHL, a division of Germany’s Deutsche Post, a stronger foothold in the Australian road freight market.

The Glen Cameron Group operates a fleet of 1000 trucks and trailers and employs more than 820 people. It operates nationally and specialises in road freight and contract logistics.

In Australia, DHL Supply Chain employs about 4000 logistics professionals at its warehouses and transport operations.

DHL, which has eyed the Glen Cameron Group for about 10 years, has a mandate to strengthen its core logistics business and link acquisitions with DHL’s logistics and freight operations with its presence in 220 counties.

DHL Supply Chain CEO Australia and New Zealand, Steve Thompsett, said in a statement: “This is a unique opportunity for DHL Supply Chain to add additional high-quality transport services to our warehouse and transport solutions in Australia.

“We look forward to offering a fuller range of transport services to existing and new customers.

“DHL is well recognised for having a strong warehouse base and with this acquisition, we will be strengthening our offer with four services; Domestic Nationwide General Freight, Domestic Nationwide Express Freight, Specialised Services and Contract Logistics transport – with dedicated solutions for customers.”

DHL Supply Chain said it would benefit from Cameron Logistics’ expertise in the consumer and grocery sectors.

In return, the Glen Cameron Group will benefit from DHL’s large-scale network in over 220 countries and global forwarding expertise in air, ocean and road freight to ensure strong development opportunities for the business, its customers, and its employees.

Glen Cameron Group founder and executive chairman, Glen Cameron, said the group was started 47 years ago and had built “a successful, diverse and resilient business.”

“What began as one eight-tonne truck in 1975 has evolved to be one of Australia’s largest transport and logistic businesses. Together with DHL, we can take our business to the next level,” he said.

“I’m excited to see the Glen Cameron Group join with DHL. Together, we can increase our footprint and become one of the largest transport and logistics businesses in this country. 

“With the backing of a highly successful global corporate business, we have an opportunity to invest in growth and open new opportunities for our employees, and this marks an important milestone to continue an important legacy in the Australian transportation industry.”

Mr Cameron, who will turn 70 in August, said he would stay on with the business for the first 12 months of the integration.

“I’ve made the right decision with the right partner at the right time,” he said.

“I’m delighted with the result and it gives assurity to my people and my customers and suppliers going forward which is the real aim.”

By Neil Dowling