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 have 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 and gave the business national logistics coverage. The business now has a strong presence in both B2B/B2C parcel distribution and full load transport logistics and warehousing, alongside the core newstrade distribution proposition. Menzies now operates out of over 100 sites and has c5,500 employees.
To further support Menzies’ growth, Menzies has welcomed Charles Wilson as a new investor, acquiring a significant minority shareholding in the company and joined the board as a non-executive director. Andy Clarke, former Asda CEO, has also joined the board as Non-executive Chairman.