Rico buys Circle Express


Rico has bought a majority shareholding in air freight distribution carrier Circle Express as part of a “strategic acquisition” plan. Circle Express, which has been trading through a CVA since May 2012, had an annual turnover of £29m in 2014, and runs more than 300 vehicles across eight airport-based depots. The company returned to profit in 2013 and reported a 44% increase in pre-tax profit to £194,000 in 2014 (2013: £134,000). Despite this growth, MD Tom Ryan said that the […]