Yearsley buys Innovate cold stores for £20m

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Yearsley Group has acquired five cold storage and distribution depots over the past two months in deals worth more than £20 million.

The deals secure 435 jobs and increases the number of depots operated by Yearlsey to 13.

The five cold stores, which are located in Bristol, Scunthorpe, Chesterfield and Newark, were originally leased by Innovate Logistics, which Yearsley acquired last year.

Following the takeover, Yearsley continued to let the sites on a short-term basis but decided to purchase them after it signed a number of long-term storage and distribution contracts with several blue chip clients.

Harry Yearsley, managing director of the group, (pictured seated with Phil Whitworth FD) said: “We have a strong growth strategy over the coming five year period and these sites will not be our last purchase.”

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