2nd Nov 2015 08:38
LONDON (Alliance News) - Agricultural and distribution business NWF Group PLC on Monday said it has acquired fuel distribution company Staffordshire Fuelds Ltd for an undisclosed amount.
NWF said the acquisition of the company, which distributes fuel in Staffordshire and the West Midlands, will increase its annual fuel volumes by 8.0% and will be earnings enhancing in the first year of ownership.
"We are pleased to announce the acquisition of Staffordshire Fuels, a high quality business with a strong brand. The acquisition is in line with our growth strategy, increases our penetration in Staffordshire and the West Midlands and will be earnings enhancing in the first full year," said Chief Executive Richard Whiting.
NWF shares were up 3.0% to 170.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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