Jersey Post has bought Portsmouth haulier Fraser Freight, after what the carrier described as one of its “most financially challenging years” to date. The postal operator said that the acquisition was a move to open new revenue streams, off the back of the declining letters market. Since 2007, Jersey Post’s letter volumes have fallen by 60%, although this has been offset by a 200% rise in packages and parcels. The operator’s chief executive Tim Brown, said: “2016 is one of […]
The TNT Express brand will remain intact following its €4.4bn (£3.4bn) acquisition by FedEx, which was completed this morning.
The transport and logistics sector is set for a flurry of mergers and acquisitions this year, according to advisory firm KPMG, following a year of subdued activity in 2011. Steffen Wagner, European head of transport transactions at KPMG, says: “This year certainly took off to a promising start. Many companies, particularly in the logistics segment, are sitting on full coffers and are ready for increased strategic acquisitions.” He adds that any activity will rely on three main factors: GDP development […]
European chemical transport giant Hoyer has acquired the bulk liquid division of Dutch logistics company De Rijke. The deal sees Hoyer take on 240 employees at five De Rijke offices, including its site in Preston Brook, Cheshire. Across Europe Hoyer will add to its operations: 1,500 tanker containers, 130 tractors and 300 tanker trailers and chassis. Günter-Friedrich Maas, head of the Chemilog business unit at Hoyer, said: “We will be gaining market share, particularly in our relations to and from […]