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."
Comprehensive supplier of products & services to the catering industry. As well as holding and drop-shipping an extensive range of consumables & equipment the company has particular expertise in the supply of commercial ware-washing equipment. Associ...
Designs manufactures and installs a wide range of doors and related access solutions in both new and old developments. An extensive range of dedicated equipment and fully employed staff are able to complete projects on-site in minimal times with manu...
Shellfish wholesaler buying from local boats & selling worldwide through agents & licensed distributors. Exports 200 tonnes of shellfish p.a. through agents & licensed distributors. Operates from a large processing factory located on the doorstep of...
|
03
|
|
Jul
|
Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY
High street fashion retailer Next Plc has confirmed the succ...
|
02
|
|
Jul
|
Benchmark Holdings secures sale of veterinary business | BUSINESS SALE
Sheffield-headquartered aquaculture health, nutrition and ge...
|
01
|
|
Jul
|
TM Lewin to close all UK stores in pre-pack administration | ADMINISTRATION
Shirtmaker TM Lewin will close all 66 of its UK stores as pa...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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