Turners (Soham) has acquired a 100% shareholding in MKT Logistics.
The deal includes all subsidiary companies - Matthew Kibble Transport, Shakespeare Transport and Fullforce Logistics.
MKT Logistics runs a fleet of approximately 90 trucks and operates in both the Pallet-Track and Palletforce networks.
Matthew Kibble Transport is a shareholder member of Pallet-Track and Shakespeare Transport and Fullforce Logistics are Palletforce members.
Turners MD Paul Day said the company would continue to grow through acquisitions and would not rule out further moves under MKT Logistics if they were a strategic fit.
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"We only purchase well run transport companies and MKT Logistics fits into that category," he said.
Added Matthew Kibble, former owner of MKT Logistics: “For me this was all about the future of MKT Logistics and succession planning. I won’t be leaving anytime soon and have given Paul my assurance I shall be there for a minimum of five years, hopefully longer.
"I have always wanted MKT Logistics to become part of something bigger and I think working with Paul is going to be fun. I have known him for 14 years since we shared Haulier of the Year 2008. I know my business couldn’t have gone to a better home. I have clear instructions from Paul that it’s 'business as usual, even if that includes expanding MKT through acquisitions'."
