Toyota Industries Corp. last week announced plans to acquire Indianapolis logistics technology firm Bastian Solutions for $260 million.



Toyota Industries, which operates separately from auto giant Toyota Motor Corp., largely produces forklifts and other machinery, but added warehouse systems to its materials handling operations in its native Japan.



The Bastian acquisition, Toyota officials said, would mark its full-scale entry into the North American logistics market as the company attempts to take advantage of growing demands from e-commerce.

The company established Toyota Advanced Logistics Solutions as a new business division to manage those operations. Bastian is the first company under TALS, but plans for further growth are expected.



“[Toyota Industries'] current strength in material handling and its long-term strategic vision, combined with Bastian Solutions’ prominence as an innovation leader, will position TALS to address customers’ mission critical needs in ways that are unmatched in the industry," Mike Romano, who will lead TALS, said in a statement.



Bastian was founded in 1952 as a maker of hand trucks, carts and other moving equipment, but expanded into more sophisticated systems and, ultimately, automation and robotics in subsequent decades.



“We expect this combination will benefit customers and expand our business by leveraging TICO’s financial strength and its status as the global leader in material handling," said Bill Bastian II, who is expected to remain as Bastian's CEO.