Connect Group has completed its takeover of Tuffnells Parcels Express, with the deal first revealed last month. Tuffnells, known for its Big Green Parcel Machine brand, has been acquired for an initial consideration of £113.4m, according to a statement released to the City earlier. Subject to performance targets being met and continuing employment for up to three years, a further payment of as much as £15.3m will be made to “Tuffnell management and option sellers”, Connect added. Mark Cashmore, group […]
Now part of the Connect Group, Tuffnells is packaged better than ever. We spoke to MD Chris Ward to find out why.
Increased volumes at Tuffnells Parcels Express and Pass My Parcel failed to offset falling newspaper and magazine sales in a recent trading update from Connect Group, which saw its turnover take a hit.
Connect Group’s CEO and CFO are to leave the business and its Pass my Parcel network will be closed, following a grim trading update that laid bare significant challenges at Tuffnells.