UNITED KINGDOM - Shaking up its portfolio in order to spur further growth, UK-based Menzies Distribution has announced that it has acquired Bibby Distribution from the Bibby Line Group as part of a deal that will create over £1 billion ($1.2 billion) in annual turnover.
“For both our businesses’ customers, it will be very much business as usual, and we look forward to supporting their growth in the coming years. Our ambitious plans for expansion underpin our absolute commitment to all our customers across all our markets. We are delighted to welcome our new colleagues to the next chapter of our combined growth strategy,” said Greg Michael, Chief Executive Officer at Menzies.
The acquisition will add 38 new operating sites to Menzies’ network, creating a combined business operation home of almost 5,000 employees, 1,400 of which will come from Bibby; 4,000 vehicles; and 100 depot locations, according to information from Logistics Manager.
Formerly a part of Bibby Line Group, Bibby Distribution specializes in paper, packaging, and consumer products, with customers that include grocery retailers. The company was reported to have had a turnover of over £166.9 million ($224 million) 3PL in 2019, which would significantly add to the growth of Menzies’ business.
“Our shared values of outstanding reliability, strong relationships, and heritage underpin the compelling prospect of an enlarged group taking the lead on quality and innovation in UK logistics,” said Richard Morson, Chief Executive Officer of Bibby Distribution. “Menzies’ smart approach to supply chain solutions for its customers and pioneering investment in electric vehicle technology show it is a truly future-focused business, and we are very much looking forward to embarking on this new journey.”
How will this acquisition affect distribution across the pond? And, will it eventually play a role in U.S distribution networks? Keep reading AndNowUKnow for the answers and the latest updates on all things fresh produce.
