Global logistics specialist Super Group has acquired 78.82% of UK logistics group AMCO, as part of wider diversification plans aimed at broadening its income base and mitigating geographical risk.

AMCO, which was launched in 1983, specialises in providing land, air and sea logistics to more than 250 UK and European customers.

In the UK AMCO has depots in Redditch, Coleshill, Coventry, Banbury, Foston near Derby, Liverpool and Manchester. It has operating licences for 72 trucks and 77 trailers.

Super Group has supply chain, fleet and dealership operations across Sub-Saharan Africa, the UK, Europe and Australasia.

The deal sees Super Group subsidiary SG International Holdings, acquire a 78.82% stake in CBW Group Holdings, which trades as AMCO, whilst the existing management team will retain the remaining 21.18% of the company.

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Super Group said AMCO's existing team brings valuable experience, with many having previously worked in sectors such as the automotive, waste, defence and FMCG markets.

It added: "The acquisition of Amco will significantly complement the group’s supply chain offering, providing opportunities for market share gains across the UK and Europe."

The group also said Amco's well-established OEM relationships, well located warehousing, a branded fleet and third-party logistics partners make the acquisition a good fit for the group.

In its most recent financial results to 30 September 2022, AMCO reported turnover of £54.5m and a pre-tax profit of £5.5m.