Culina Group has announced an agreement to take over GreenWhiteStar Acquisitions as of today (1 July 2021).
The terms of the agreement, including consideration, have not been disclosed.
GreenWhiteStar Acquisitions comprises of Eddie Stobart, Eddie Stobart Europe, iForce, The Pallet Network, and The Logistics People.
With an overall turnover of more than £2.2bn, a combined workforce of around 22,000 staff, approaching 20 million sq ft and a joint fleet of more than 5,500 vehicles, Culina Group said it has significantly strengthened its market leading position in the FMCG logistics sector with the deal.
It added that GreenWhiteStar Acquisitions will benefit from private ownership with protection of its brands for years to come. The move will also provide job retention, investment, and will 'bring an entrepreneurial spirit'.
Going forward, William Stobart will take a seat on the Culina Group board for the long term as deputy group chief executive. The primary aim is to ensure that all current and prospective customers continue to benefit from market-leading levels of service.
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Commented Culina Group chief executive Thomas van Mourik: “GreenWhiteStar Acquisitions and Culina Group are complementary businesses, two very strong organisations with great reputations in the industry and with similar cultures. This is an excellent fit which is going to be fantastic for both our staff and for our clients, whilst making Culina Group the largest FMCG logistics provider in the UK.
“It goes without saying that we are acquiring some excellent contracts, facilities and people. This move significantly expands our ambient network and will enable us to benefit from synergies and efficiencies that will improve our service offer to customers even further.”
The acquisition extends the existing Culina Group network to over 100 strategically located distribution centres in the UK following the addition of the 40-plus facilities operated by GreenWhiteStar Acquisitions. Culina Group is now the largest privately owned logistics provider in the UK and a business that is undisputed in terms of service.
Added William Stobart – GreenWhiteStar executive chairman: “Culina Group recognises that it is investing in a highly successful business with its own great family spirit. Culina Group’s aim now is to support our growth trajectory with the added workforce infrastructure and resources of the overall Group. The GreenWhiteStar acquisitions board are extremely pleased to take the group businesses back to private ownership. The combining of our two businesses will create major opportunities for significantly growing our market share.”
Picture shows (from left) Chris Price, CFO Ambient; David Pugh, CFO Chilled; Alastair Isbister, chief executive - Great Bear and Warrens; Thomas van Mourik, chief executive - Culina Group; Ryan Wheeler, chief executive - Unity Resourcing Solutions; Gary Donnelly, CIO - Culina Group; Glyn Davies, non-exec director – Culina Group; Richard Berry, HR Director – Culina Group; Andrew Dawson, chief executive - IPS; Steve Winwood, chief executive - Culina Logistics; John Kerrigan, chief executive - Fowler Welch; Philip Clarke, MD - Morgan McLernon; Nigel Jury, Company Secretary - Culina Group; William Stobart, Deputy chief executive - Culina Group; Tom Middlemiss, MD – Warrens; Rebecca Smith, legal director; David Pickering, chief executive - Eddie Stobart; Paul Thirkell, MD – iForce; Carl Stairs, MD - The Logistics People; Mark Kendall, MD - The Pallet Network; Raf Hustinx, MD - Eddie Stobart Europe.
