Grenda Announcement - 09/08/2011
Tuesday 9th August 2011
Today the Grenda family informed their staff and associates that they have commenced a
process of exploring a potential sale of Grenda Transit Management (‘GTM’) and Volgren.
They have appointed advisors to assist in the process and expect to conclude a sale over the
coming months. Whilst this may mark the conclusion of the Grenda family’s ownership of
GTM and Volgren, they are confident it will also mark the beginning of an exciting new
chapter for the businesses.
Grenda’s history in buses can be dated back to 1945 and was started by the late George
Grenda. During nearly seven decades, GTM has experienced significant growth and today it
is the leading bus operator in Victoria.
Volgren commenced its operations in 1977 and has become the market leader in bus body
assembly in Australia, with plants in Dandenong, Perth, Brisbane and Newcastle.
Ken Grenda said today, “the decision to part with our family’s business has not been taken
lightly, particularly given the involvement that Geoff, Scott and I continue to have in the
business. However, as the family grows, interests continue to diverge, with the next
generation not expected to be in a position to run the business for a number of years. As
such, we have decided that the business would be better positioned under the care of an
organisation with strong ambitions in the industry that will continue to capture the
significant growth opportunities and build on the current platform.”
Ken went on to thank the employees of Grenda, saying the family were very grateful for
their loyalty and hard work over the years.
Group General Manager
(03) 9767 8900