4th Apr 2019 10:20
LONDON (Alliance News) - NWF Group PLC on Thursday said it has acquired Cornwall-based fuel distributor Consols Oils Ltd to support its expansion in the southwest of the UK.
Shares in the fuel, food and feed distributor were trading 7.1% higher at 148.90 pence each on Thursday.
No financial detail related to the acquisition was disclosed.
"NWF's growth strategy is to both expand the geographic coverage of the fuels business within the UK and consolidate businesses adjacent to the existing depot network," the company explained.
Cornwall is a new area for NWF' fuel business, with the acquisition deemed complementary to its strategy of geographical expansion.
Furthermore, NWF reported trading in line with the board's expectations for the year ending May.
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