BroadGauge wrote:This news, once the acquisition is completed would have to put Ventura in the top 5 largest bus operators in Australia for fleet size, as well as staff numbers & passenger carried?
stajourneyman wrote:What is the future (ownership) of Volgren?
stajourneyman wrote:Will Ventura eventually run the entire operation under the Ventura brand, or keep things separate in the longer term?
stajourneyman wrote:Will they (as stated) strive to gobble up the remaining 'loose ends' as in Cranbourne, and Driver's metro and peninsula operations? Other than these and the Dineen Group companies, ie McKenzies and Martyr's, there are no other route operators left on that side of town. It's amazing how, in a few years, it's narrowed down to this. At least are all owned by Australian, nay, Melbourne long term family operators.
stajourneyman wrote:What effect will this tendering for routes nonsense have on relevant parts of their services?
stajourneyman wrote:What sort of money was paid for it? I would take a stab and say around $250-300 mill.
Ventura and Grenda Merger
Two of Australia's largest family based bus operators, Ventura and Grenda, will come together with Ventura being the successful purchaser of Grenda Transit.
Please click on the following link for the full announcement detail.
scott wrote:This would probably be the biggest takeover of an operator in the history of the Victorian bus industry- possibly second to the Ventura/National takeover of seven years ago.
Would be very interesting to see how it all unfolds- fascinating times ahead.
B7RLE wrote:Ventura dont actually own National its just a contract so Dysons could get the contract one day
So we're going to see bubbles in Dandenong?
krustyklo wrote:Must be true, it's in the Herald Sun...
Craig wrote:Note this comment from Andrew Cornwall:
"We will be maintaining the Grenda branding as we recognise the culture of the business and that it's aligned to certain areas."
End of line for Grenda bus group
November 19, 2011
Ventura is to pick up Grenda's fleet.
AFTER three generations, Melbourne's Grenda family has sold its 650 bus operation to another family-owned group, the Cornwall family's Ventura Bus Lines, in what is thought to be a $400 million-plus deal.
The family is also selling its bus-building operation, Volgren - which last year turned over $236 million, and lifted profit from $10.9 million to $13.4 million - most probably worth more than $600 million.
Ventura's win in the auction of Grenda Transit Management, run by investment bank UBS, will have effectively doubled its size.
It also beat its competitor, the CDC joint venture between Cabcharge and Singapore group ComfortDelGro, which wanted to expand their bus operations from Melbourne's west to the eastern suburbs.
Both CDC and Ventura applied to the Australian Competition and Consumer Commission last month for approval to acquire Grenda, given their large existing businesses in running suburban buses. The commission is due to make a decision next Thursday.
The Grenda family's decision to sell the business was, according to family patriarch Ken Grenda, ''difficult''. It is believed that, like so many family businesses built up over decades, the businesses had outgrown the family and the Grendas were looking for the most equitable way of distributing the accumulated wealth to current family members, many of whom have no connection with the operations.
The Grendas told all their staff of the sale decision in August, after which UBS began marketing the bus business that turns over $155 million a year - 90 per cent of that government contracts that run until 2018.