Sharp ■ Informed ■ Challenging
Belgian giant Sitra Group acquires Abbey Logistics
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Belgium-based Sitra Group has acquired Abbey Logistics for an undisclosed sum, in a move that sees a major consolidation of the food logistics sector. Sitra Group was launched in 1962. It employs approximately 1,150 people across 11 countries, including the UK, and operates a fleet of 700 owned trucks and over 2,000 trailers and containers, including liquid and powder food tankers. The group, which last year reported a turnover of €165m, is largely owned by the Saelens family, with investment company Creafund holding the balance of shares since 2021. The purchase of Abbey Logistics Group, which boasts an annual turnover of £75m, sees Sitra Group
add nearly 600 staff and a fleet of 325 trucks and 550 trailers to its operations. Sitra Group has pledged that Abbey will continue to operate under its own name and livery. An Abbey Logistics spokesperson told MT that the company has no plans to make any staff redundant or to close any depots.
Abbey has been majority owned by private equity firm NorthEdge Capital since 2016, following a management buyout led by Steve Granite, former chief executive and current chairman, who is to take on an advisory role at the company following the acquisition.
Fowler Welch and Great Bear Distribution deliver impressive pre-tax profit increases for 2022
Culina companies report soaring revenues and profits By Chris Tindall
Culina Group companies Fowler Welch and Great Bear Distribution fought against “challenging market conditions” last year to increase both revenue and pre-tax profit. The latest financial results, for the year ending 31 December 2022, showed that chilled food supply chain business Fowler Welch increased turnover by 23% during
the period to £201m, from £163m in 2021. Pre-tax profit increased from £4.6m to £12.4m, although the business pointed out that almost £2.7m of this was an exceptional profit from the disposal of joint venture Integrated Services Solutions. In February 2022, Fowler Welch acquired Robert Burns Logistics
in order to boost its presence in the fresh logistics market. It said this purchase had allowed it to increase its scale and expertise in the sector, which had accelerated growth. Meanwhile, fellow Culina subsidiary Great Bear Distribution saw revenues and profits soar in 2022; turnover increased at the UK ambient 3PL by 16.4% to
£399m and pre-tax profit more than doubled to £42m, compared to £17.7m in 2021. In late 2022, the decision was taken to transfer the warehousing activity of group undertaking Eddie Stobart over to Great Bear. The firm said this had allowed it to expand its storage portfolio, which would help with further growth. “The company is well funded and financially robust, so the directors are confident the company is well placed to meet the challenges of the ongoing economic climate and market conditions,” it said. Culina Group itself reported a 37.8% increase in pre-tax profit, to £5.7m in 2022. Turnover increased by 43% to £88.3m, which it attributed mainly to increased recharges following the purchase of Stobart umbrella company Greenwhitestar Acquisitions in July 2021.
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