Fri, 18 May 2018 | DIVISION SALE
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."
A highly profitable meat wholesalers which in our opinion has further development potential in the right hands. Offering a spacious industrial unit in the region of 1,500 sq.ft. with tiled floor. The equipment includes 3 butchers blocks, 3 electronic...
Premises in the region of 7,660 ft². concrete floor, ceiling lighting. sales counter, 2 epos tills, industrial adjustable shelving, 2 stainless steel tables, 1 butchers table, 1 professional butchers cutting machine, CCTV system includes 16 cameras,...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
03
|
May
|
Three Aberdeen legal firms merge to form all-service provider | MERGER
Three prominent Aberdeen legal businesses have merged to for...
03
|
May
|
BGF-backed asbestos services firm makes third acquisition | BUSINESS SALE
Environmental Essentials, a specialist asbestos services fir...
03
|
May
|
Logistics firm acquires pair of Derbyshire businesses | BUSINESS SALE
A logistics firm headquartered in Preston has acquired a pai...
11
|
Jun
|
Menzies Distribution continues growth with JBT acquisition | BUSINESS SALE
Menzies Distribution, which is backed by private equity firm...
10
|
Jan
|
Savile Row retailer enters administration | ADMINISTRATION
For the second time in its 73-year history, men’s tail...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.