Warrington logistics giant in £52.8m deal for Midlands pallet specialist
Transport group Eddie Stobart has acquired The Pallet Network Group (TPN) for £52.8m.
The Warrington-based group has also completed a share placing with new and existing institutional investors that raised £30m.
Sutton Coldfield-based TPN is a provider of pallet distribution services across the UK and Ireland.
The acquisition is expected to complete within the next day or two, following admission of the placing shares.
Stobart said £44.14m the total £52.8m acquisition cost is payable in cash, and the remaining £8.66m ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
