Trading up for Menzies as search for buyer continues

Fri, 18 May 2018

Logistics group John Menzies has reported that is trading ahead of last year as it continues to search for a buyer for its newspaper and magazine distribution arm.

Ahead of the firm's AGM, the company announced that it is hopeful its positive start to the year will help to attract buyers and secure the firm a successful deal in the near future.

The company is revisiting plans to sell the Menzies Distribution division after talks of a merger with parcel group DX ended abruptly at the end of 2017. As a result of the failed talks, the company admitted that the sales process is taking longer than it expected, but suggested that it remained positive an appropriate buyer will be found soon.

Commenting on the overall success of the company, a spokeperson confirmed that the delay in sale is not dampening the company's growth: "Looking ahead, excluding the impact of previously flagged weaker foreign currency, the group continues to be on track."

"We are operating in a structural growth market, we are extremely well placed to extend our geographical presence and overall market share as we grow organically, enter new markets and deepen our product offering."

According to the firm, it has already seen success in a number of its divisions including its aviation arm. Specifically, Menzies Aviation has won a number of fuelling contracts in North America and started operations for many airlines in Dublin.

Furthermore, it's up-for-sale distribution branch is also seeing success, with newspaper volume in line with predictions but magazines trading better than the company had expected.

Chairman Dr Dermot Smurfit added: "We are operating in a structural growth market, we are extremely well placed to extend our geographical presence and overall market share as we grow organically, enter new markets and deepen our product offering."


Subscribe today to read and search all our news, premium articles, business sale listings and buy/sell resources.


Latest Wholesale and Distribution Businesses for Sale


Suppliers of Souvenirs - Derbyshire

Asking Price: 
Turnover:  £1,200,000
Location: East Midlands

With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...


Cash & Carry - Merseyside

Asking Price: 
Turnover:  £500,000
Location: North West

Cash and carry specialising in interior decorative PVC panelling and shelving also. Exterior, building and garden. Plastic products. All goods are paid before collection or despatch...


Import & Distribution - Birmingham

Asking Price: 
Turnover:  £1,000,000
Location: 

Import and distribution of £1 lines, supplying superstore with poundlines. Each product sold at 70p, monthly visits to all shop keepers to replenish stock. Excellent money-making business. NP £250k...


View More Wholesale and Distribution Businesses for Sale >>