DX Group has acquired almost half of last-mile delivery firm Gnewt Cargo for £1.75m. DX has bought a 49.8% stake in the firm, which runs a 100-strong fleet of zero-emission vehicles for last mile multi-drop deliveries in central London. As well as running electric vans, Gnewt also has a fleet of minivans and cargocycles. DX hopes the acquisition will provide new capability to deliver for customers in the legal, financial and public sectors, and will bolster its high street and […]
Stobart is still restructuring the former Innovate business it acquired out of administration in 2008 – a process that has been “more challenging, costly and further reaching than first planned”. The admission came as Stobart Group revealed profit rose 10% at its transport and distribution division (Eddie Stobart) to £14.2m in the first six months ended 31 August. This was despite a 5.6% fall in turnover to £251.1m. “We have improved our margins in [Eddie Stobart] through more effective financial […]
Refrigerated vehicle rental firm Petit Forestier has abandoned its bid to buy leasing company Fraikin Group after opposition from the French Competition Authority.