Freightways buys Big Chill Distribution for at least $117m

Wed, 30 Oct 2019

Freightways will have something to talk about at tomorrow's annual meeting after it announced a $117 million acquisition of Bill Chill Distribution, which operates a fleet of more than 200 refrigerated trucks and trailers. The NZX-listed courier and information management company will pay $117 million upfront, representing 80 percent of Big Chill's enterprise value, with the balance to be paid in 2022 based on its earnings performance. Freightways will fund the acquisition through existing and new bank debt, and the purchase will start con...

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