Menzies Distribution has been sold, for an undisclosed sum, to private equity firm Endless.
Last year owner John Menzies, which has been looking to divest the business, pulled the plug on a sale to DX Group, which had a rollercoaster of a 2017 itself.
Two years back, the firm’s management started to diversify the business and began working with national parcel carriers operating in the retail space.
Thanks to this, it has continued to win business in its core sector of newspaper and magazine distribution, landing a “significant” deal with Reach, formerly known as Trinity Mirror, in June at the expense of rival CEVA Logistics.
Greg Michael, MD of Menzies Distribution (pictured), said: “This is great news for Menzies Distribution. Whilst it’s business as usual, becoming an independent company enables us to be in control of our own destiny and reinvest to fulfil our ambitious growth and diversification plans for the business.
“The recent major UK-wide primary trunking contract to collect and deliver all daily and regional weekly newspapers printed by Reach is as an example of our successful diversification strategy in action.”
Aidan Robson, partner at Endless, said: “Menzies Distribution represents Endless’s largest investment to date and is a hugely exciting acquisition. We look forward to working closely with Greg and the rest of the management team to deliver our shared vision for this business.”
Menzies Distribution has a turnover of £1.1bn and employs approximately 3,700 people across 56 sites, throughout the UK and Ireland.
The business distributes more than seven million newspapers and magazines each day.
