- 30 July 2018
- Transport / Logistics Services
The private equity investor Endless has announced plans to buy Menzies Distribution from John Menzies for £74.5 million.
Menzies Distribution Limited is based in Edinburgh and operates one of the U.K.’s biggest overnight logistics networks. It employs around 3700 staff at more than 50 sites in the UK and the Republic of Ireland.
Menzies distribution’s main business providing distribution for magazine and newspaper publishers. Recently it has built up that parcel delivery services through series of acquisitions. As an example it purchased Gnewt Cargo, a London delivery company that also has biggest electric commercial delivery fleet.
In a statement posted on its website, Endless said its “acquisition of MDL will enable the business to build on its successful growth and diversification strategy, working in long-term partnership with publishers to secure a sustainable route to market for their productand further support building and harnessing MDL’s UK network to partner with national parcel carriersandbecome a provider of choice to the retail sector”.
The acquisition must now be approved by John Menzies shareholders as well as the Competition and Consumer Protection Commission in Ireland.
When the deal is completed Endless has said it will issue more information
John Menzies has been planning to divest Menzies Distribution for some time. Last year a deal fell through where Menzies distribution was set to merge with DX Group.