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 […]
Mergers and acquisitions (M&A) activity in the transport sector throughout the world is predicted to rise for the fourth consecutive year, according to a report from KPMG.
Tuffnells Parcels Express sales have risen sharply with almost 300 new customers being brought on board since it was acquired in December by Connect Group.
Connect Group has continued to enjoy growth in the first half of its trading year driven by its acquisition of Tuffnells Parcel Express in 2014.