Tuffnells owner Connect Group is to sell its care and education division in order to focus on the growth of its parcels and news services. Connect will sell the division to education resource provider RM for £64.4m, including £56.5m cash and deficit of £7.9m. The group said the move will reduce its borrowings and allow it to grow its news and media division, Smiths News, and its parcels operation (Tuffnells). Connect Group bought Tuffnells and its famed “big green parcel […]
Connect Group has continued to enjoy growth in the first half of its trading year driven by its acquisition of Tuffnells Parcel Express in 2014.
Connect Group has completed its takeover of Tuffnells Parcels Express, with the deal first revealed last month.
Connect Group saw its revenue climb 0.2% in the 20 weeks to 21 January 2017 with it parcel freight division leading the way.