Menzies Distribution has acquired Irish news and magazine wholesaler, EM News Distribution, for £3.1m.
Under the terms of the deal, Menzies Distribution will increase its existing 50% interest in the company to 100%, buying out the remaining 50% share currently held by Irish retailer Eason.
In line with its expansion plans, Menzies Distribution has substantially invested in and diversified its operations, gaining ground in e-commerce and logistics growth sectors over the last 18 months. It has acquired distributors AJG Parcels, Thistle Couriers and Oban Express, with Menzies Parcels now delivering more than 3 million items annually.
Menzies has also strengthened its portfolio of retail logistics contracts, which include the three year national contract for WH Smith’s national network of 1200 stores, and a UK-wide contract with catering equipment supplier Nisbets.
Paul McCourt, Finance Director of Menzies Distribution, said:
“This acquisition comes at a great time for our business and firmly reinforces the strategy we have been pursuing in recent years. We are continuing to build a business of scale with national coverage to offer services to the £55bn UK logistics market.
“Taking full control of EM News Distribution gives us the opportunity to bring our full expertise to bear on serving the newstrade sector across Ireland. It also provides us with a similar platform to explore new logistics services in Northern Ireland and the Republic of Ireland, similar to the approach we have been taking across Scotland, England and Wales.”
EM News Distribution employs 193 operational staff who will join Menzies Distribution, and holds 44 directly-owned vehicles from a total fleet of 201. EM News Distribution has depots in Dublin, Belfast, Cork, Urlingford, Galway, Limerick and Londonderry and also operates out of Waterford, Wexford, Kildare, Dundalk Mullingar, Longford and Tralee.