Eddie Stobart in talks to purchase 'complementary' business for £50m

Eddie Stobart Logistics is in talks with an unnamed company to acquire it in a deal valued at around £50m

In a statement to the London Stock Exchange today (7 June), Eddie Stobart said: “The company announces that it is in discussions regarding the potential acquisition of a logistics service provider whose operations are complementary to the Eddie Stobart group's existing offering.

“It is expected that the total consideration would be in the region of £50m, funded by a mix of debt and equity and that, if completed, the transaction would be earnings enhancing in the first full year of ownership.”

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The company added that there is, as with any deal, no certainty that it will complete successfully.

Since listing on the Alternative Investment Market in 2017, Eddie Stobart has delivered a number of deals, with its e-commerce business surging off the back of its purchase of retail logistics management business iForce last year.

Eddie Stobart also owns half of express delivery firm Speedy Freight.