Wincanton offloads businesses in Europe for €46.5m
Wincanton has announced the intended disposal of part of its operations in Mainland Europe for an enterprise value of €46.5 million.
Wincanton plans to sell its German road network and businesses in Central and Eastern Europe (CEE) to Raben Group, and its logistics operations in The Netherlands to JCL.
The transactions are subject clearance by the relevant competition authorities and the completion of the necessary works council consultations.
The announcement follows a strategic review of Wincanton’s business, which identified the objective to focus on strengthening its leading position in markets where it has significant scale and infrastructure and to develop areas with higher profit growth potential.
Wincanton has also targeted a reduction in debt levels, and the proceeds of the intended sale will be used to provide greater flexibility in the balance sheet and capitalise on the significant opportunities presented by a changing market.
Wincanton’s businesses in Poland, Hungary, the Czech Republic and Slovakia provide both in-country contract logistics solutions and operate regional transport contracts across the CEE countries. The German road network operates from sixteen locations and offers domestic and international groupage services. In the Netherlands, Wincanton operates both warehousing and transport solutions, including an international transport hub in ‘s Heerenberg.
Collectively, these businesses employ approximately 2,850 people, who will transfer to Raben Group and JCL respectively on completion of the sale.
Raben Group operates in the Czech Republic, Estonia, Holland, Germany, Hungary, Lithuania, Latvia, Poland, Slovakia and Ukraine.
Austria-based JCL has 55 operations across Europe and Asia.
Quelle: eyefortransport
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