Company chasing damages after claims impending loss of client not disclosed in acquisition.
Kiwi logistics operator Mainfreight is seeking millions of euros in damages from the former owners of the Wim Bosman Group, the European transport firm it bought in 2011, over allegations the company failed to disclose the impending loss of a major customer in the lead-up to the acquisition.
The company bought the Netherlands-based firm - which was one of the largest privately owned freight businesses in Europe, with operations across the continent including in France, Romania, Poland and Russia - for €110 million ($NZ186 million).
The court action and surprise customer loss, which has not been disclosed to the stock exchange, is revealed in Ready Fire Aim, a soon-to-be-released book on the history of Mainfreight by Keith Davies.
It says that before the acquisition Mainfreight was fully aware that three of Wim Bosman's biggest customers - Samsung, Sara Lee and European toy and games giant Ravensburger - were due to stop using the firm and the loss of those clients was factored into the sale price.