Wincanton has acquired German warehousing and transport specialist business ELI. The cost of the deal is an initial €12m (£9.5m) but Wincanton may have to pay up to €3m (£2.4m) more subject to the financial performance of ELI in the period to November 2009.
ELI employs 130 people based at two locations in the Koblenz area. It operates a fleet of 100 vehicles, and provides warehousing and national and international groupage services
to customers in the industrial and consumer goods sectors. The agreement is subject to clearance from the German regulatory authorities.
Graeme McFaull, Wincanton chief executive, says: "Infill acquisitions such as ELI, in addition to the profit improvement already being made in our existing operations, will continue to reinforce the operational and strategic progress of our German road network."
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