Allegro Funds completed the acquisition of Global Express business from Toll Group and Japan Post for $500m.

Allegro Funds, a transformation and turnaround private equity firm, completed the acquisition of Global Express business, which provides express parcel, freight delivery and domestic forwarding services, from Toll Group, an Australian transportation and logistics company, and Japan Post, an operator of post stations, banks, and insurance business, for $500m. “The divestment is consistent with Toll’s strategy to focus on being a pre-eminent Asia-Pacific logistics provider through its core businesses in contract logistics and freight forwarding,” John Mullen, Toll Chairman.