Linde abandons plans to sell Gist

German gases giant Linde has abandoned plans to sell Gist, the UK logistics services provider that it acquired when it bought the BOC Group in 2006.

It said: “The executive board of Linde AG decided that it would no longer disclose the business of logistics services provider Gist as a discontinued operation.

“The sales negotiations with potential buyers were abandoned in the second quarter of 2018 and thus a sale is no longer deemed to be highly probable.”

Gist turned over £416.7 million in 2016, producing an operating profit of £17.5m.  It manages chilled, frozen and ambient food distribution for Marks & Spencer, as well as having major contracts with Starbucks and EAT.

Last year, Linde said it would no longer include Gist in group figures due to a planned sale.

Despite its success, Gist, which started life as BOC Distribution Services, is not core to the Linde group, and there has been speculation about a sale ever since it sold its materials handling division, now named Kion, in 2006.