THE OPPORTUNITY
When we acquired Menzies Distribution in 2018, the business operated one of the largest overnight time-critical logistics networks in the UK and Ireland, providing newspaper and magazine deliveries to over 60% of the UK and Ireland with turnover of £1.1bn and 3,500 employees. The business was deemed non-core by its parent, John Menzies Plc, however, we recognised the strategic importance of newstrade distribution and the value of the significant logistics infrastructure this provided for diversification into adjacent and growing logistics categories.
THE IMPACT SO FAR
Working alongside the management team, we commenced a successful diversification strategy, harnessing Menzies’ unique UK and Ireland network capabilities to work with retailers and businesses to provide other B2B and B2C logistics services. To support this strategy, we provided further funding for the acquisitions of Bibby Distribution and JBT Distribution, which further diversified revenue streams into full load transport and warehousing and gave the business national logistics coverage by the end of 2021. At this point, the business now had three core divisions, Newstrade distribution, B2B/B2C Parcel Distribution and Full Load Transport & Warehousing. The Board was strengthened including the appointment of Charles Wilson (ex Booker CEO) as NED and Andy Clarke (ex Asda CEO) as Chairman. In 2023, Menzies’ Newstrade and Parcel operations established an exclusive logistics partnership with InPost, Europe’s leading out of home delivery provider, who also became a minority shareholder in the business. Menzies’ logistics capabilities and operational synergies enabled InPost to achieve a significant increase in volumes YoY and in October 2024 InPost acquired the Newstrade and Parcel operations in full. Endless continues to own Menzies Distribution’s £220m revenue Full Load Transport and Warehousing business and is supporting management’s growth strategy which includes acquisitions. In November 2025, the business acquired the trade and assets of C. Butt’s transport operations.
