Nightfreight has been acquired by DX Group in an undisclosed cash deal that creates a mail, courier and distribution business with a combined turnover of approximately £290m. As part of the acquisition former City Link MD Stuart Godman will join the combined managerial board as chief operating officer. His former Target Express and City Link colleague, DX chief executive Petar Cvetkovic, remains in his current role while Nightfreight chief executive Ian Smith becomes DX strategy director. Cvetkovic says the acquisition […]
Menzies Distribution has bought fully electric final-mile delivery firm Gnewt Cargo for an undisclosed sum.
DX, which listed on AIM in February, has said that the focus for the next three years will be the turnaround of the former Nightfreight business, which is now called DX Freight.
DX Group shareholders controlling almost a fifth of the company have signed a letter demanding the board terminates discussions with John Menzies about a proposed takeover, unless the deal is improved significantly.