Culina Group acquires Eddie Stobart to create £2.2 Billion FMCG Logistics business
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The Culina Group, a major FMCG logistics services provider, has announced an agreement to take over GreenWhiteStar Acquisitions, acquiring Eddie Stobart, Eddie Stobart Europe, iForce, The Pallet Network, and The Logistics People in the process.
In a statement, the Culina Group says the new business will have an overall turnover of more than £2.2 Billion, a combined workforce of around 22,000 staff, almost 20 million square feet of warehouse space and a joint fleet of more than 5,500 vehicles.
The Culina Group states that GreenWhiteStar Acquisitions will benefit from private ownership with “protection of their brands for years to come.” Moreover, it is said the “move will also provide job retention, investment, and will bring an entrepreneurial spirit.”
“GreenWhiteStar Acquisitions and Culina Group are complementary businesses, two very strong organisations with great reputations in the industry and with similar cultures. This is an excellent fit which is going to be fantastic for both our staff and for our clients, whilst making Culina Group the largest FMCG logistics provider in the UK”, said Thomas van Mourik, Culina Group CEO, It goes without saying that we are acquiring some excellent contracts, facilities and people. This move significantly expands our ambient network and will enable us to benefit from synergies and efficiencies that will improve our service offer to customers even further.”
As a result of the acquisition, the Culina Group network now has 100 strategically located distribution centres in the UK, as well 40 more facilities operated by GreenWhiteStar Acquisitions. This makes the Culina Group the largest privately owned logistics provider in the UK.
“Culina Group recognises that it is investing in a highly successful business with its own great family spirit. Culina Group’s aim now is to support our growth trajectory with the added workforce infrastructure and resources of the overall Group. The GreenWhiteStar Acquisitions Board are extremely pleased to take the group businesses back to private ownership. The combining of our two businesses will create major opportunities for significantly growing our market share.” said William Stobart – GreenWhiteStar Executive Chairman.
According to yesterday’s statement, William Stobart will take a seat on the Culina Group Board for the long term as Deputy Group CEO. The Culina Group adds that its “primary aim is to ensure that all current and prospective customers continue to benefit from market-leading levels of service.”