Bibby Distribution has bought a significant part of the English operations of haulage company MRS Distribution from the receivers.
In a cash deal, Bibby took over contracts with packaging manufacturer Board 24 and industrial packaging firm Greif UK , late on Friday 6th August.
The assets were bought for an undisclosed sum, as part of a planned acquisition programme by Bibby. It acquired Taygroup in April 2010.
Bibby has sourced nearly 200 vehicles at short notice to service the contracts.
Iain Speak, Bibby’s chief executive said: “The market has been flat due to the recession and there are not many buyers out there. Some company owners that would like to sell have been waiting to see if things improve, but it is now clear to everyone that the prices achieved two years ago won’t be back.
“We carried out these transactions because it made sense for us and we are very active in looking for fundamentally sound businesses that we can acquire to enhance and accelerate our growth strategy.”
