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 […]
Express parcels and mail provider UK Mail Group says it is taking action to plug the gaps in its pallet distribution business UK Pallets. It reported a significant decline in operating profit from this division during the first six months of the financial year. While revenue from its pallets business rose 0.8% to £14.3m in the six months to 30 September compared to the same period last year, operating profit fell over 26% to £800,000, said the firm. UK Mail […]
TNT Express has expanded its express pallet delivery service from the UK to 10 more locations across the Americas and the Middle East.