Japanese industrial equipment giant Toyota Industries Corp. last week announced the acquisition of yet another warehouse systems company as it seeks to take advantage of the global growth of e-commerce.
TICO, which largely makes forklifts and other machinery and operates separately from Toyota Motor Corp., last month bolstered its materials handling operations in the U.S. with the $260 million acquisition of Indianapolis-based Bastian Solutions.
The company said that the $1.25 billion purchase of Vanderlande Industries Holding would expand its handling offerings worldwide.
Vanderlande makes sorters, conveyors and software and produces systems for retail, parcel shipping and airport baggage operations. The company employs about 4,500 people at 50 sites worldwide.
TICO officials said that the Vanderlande and Bastian deals mark an "important first step" toward expanding beyond forklifts.
"Toyota Industries, Bastian and Vanderlande will together strengthen their collaboration to provide new logistics solutions required by customers on a global level, and the Toyota Industries Group will aim to spur further growth," the company said in a statement.