Eddie Stobart Logistics has purchased The Pallet Network (TPN) for £52.8m. The operator confirmed today (28 June) that it had entered into an agreement to acquire the share capital of the pallet network, which comprises 106 regional hauliers (members) on a cash and debt-free basis. It has done this, in part, via a £30m share placing with institutional investors (see finacing the deal below for more). Eddie Stobart Logistics signaled its intention to investors earlier this month. Alex Laffey, CEO […]
A record-breaking amount of pallets were shifted by Association of Pallet Networks (APN) members during the first quarter of this year.
Palletforce has partnered with Italian pallet network One Express, launching a direct service to Italy for its members. The partnership began on 1 November and will allow Palletforce to offer its members day definite delivery and daily departures to Italy. Bologna-based One Express, which has 70 depots over Italy, is the first European network that Palletforce has collaborated with and members will be able to access the new service through its existing Alliance IT system. Palletforce chief executive Michael Conroy […]
S&S Distribution, the Kent-based haulier snapped up by Palletline last year, recorded a pre-tax loss shortly after its purchase, newly published accounts show.