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."
Offers a comprehensive range of high-end products for multiple sectors. Holds long-standing relationships with several clients, due to the excellent service offering. Offers invited.
FREEHOLD
Established since 1985. The opportunity would suit a knowledgeable, hands on owner/operator with a passion for good food, or perhaps another wholesale business looking to expand its customer base. The business has a trading history of over 30 years,...
RELOCATABLE
Supplies fresh and frozen bread, croissants, pastries, tray bakes, cookies and scones to sandwich manufacturers, stadiums and event halls, hotels, schools, airline caterers and the Government. Offers invited.
LEASEHOLD
|
16
|
|
Jul
|
Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE
A supply chain management company operating in the aviation ...
|
15
|
|
Jul
|
Specialist engineering firm forced to appoint administrators | ADMINISTRATION
Rail contracting company Aspin Group Limited has been forced...
|
12
|
|
Jul
|
Irish mobile diagnostics firm snapped up by Blancco Technology Group | BUSINESS SALE
Blancco Technology Group, which provides a range of mobile d...
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