Logistics giant Culina Group has bought GreenWhiteStar Acquisitions which will lead to an additional £2.2 billion turnover.
Culina Group, which owns companies such as Culina Logistics, Great Bear Distribution, Fowler Welch, AIM Logistics, CML, Morgan McLernon, IPS, FoodPack, MMiD, Warrens, and Unity Resourcing, has bought the company for an undisclosed amount.
GreenWhiteStar Acquisitions is owner of Eddie Stobart, Eddie Stobart Europe, iForce, The Pallet Network, and The Logistics People; the overall turnover of the company is £2.2bn, and the acquisition by Culina has added 22,000 employees to its company.
Culina will also gain 20 million ft2 of warehousing space, as well as more than 5,500 vehicles, strengthening its overall position as a key player in the FMCG logistics industry.
Thomas van Mourik, Culina Group CEO said: “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.”
William Stobart Executive Chairman at GreenWhiteStar said: “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.”
Stobart is set to take a seat on the Culina Group Board for the long term as Deputy Group CEO.