John Menzies plc, the time-critical logistics company, is pleased to announce that it has reached agreement for Menzies Distribution, its newspaper and magazine distribution business, to acquire the entire issued share capital of North West Wholesale News (North West News).
North West News is a well established and successful newspaper and magazine wholesaler. Its operations serve the Preston area. The business will be fully integrated into the Menzies Distribution network.
North West News' reported gross assets at 30 April 2005 were £4.5m.
Patrick Macdonald, Chief Executive of John Menzies plc, said:
"Following the recently completed acquisition of Chester Independent Wholesale Newsagents, this is another important addition to Menzies Distribution. It demonstrates our commitment to delivering a comprehensive service to publishers and retailers alike. North West News is a successful business and we look forward to building on its existing customer service levels."
Enquiries
John Menzies plc
Patrick Macdonald, Chief Executive 0131 459 8186 Paul Dollman, Group Finance Director 0131 459 8186
Citigate Dewe Rogerson Ginny Pulbrook 020 7282 2945 Anthony Kennaway 020 7282 1076
NOTES TO EDITORS
1. Menzies Distribution Limited is acquiring 100% of the share capital of North West Newspapers (Holdings) Limited, which owns 100% of the share capital of North West Wholesale News Limited, from A Pemberton, S G Pemberton and P Sidebotham, who are also the directors of the company.
2. John Menzies plc, the time-critical logistics company, is one of Scotland's largest companies. The company has two operating divisions, Menzies Distribution and Menzies Aviation. Both divisions operate in distinct B2B sectors where success depends on providing an efficient, high quality, time-critical service to their customers and partners.
3. In the year ended 31 December 2005, John Menzies reported turnover of £1,390.0m (2004 - £1,369.2m) and headline profit before tax of £39.4m (2004 - £33.6m). Turnover at the Distribution division was £1,104.3m (2004 - £1,109.4m) whilst operating profit was £30.7m (2004 - £30.5m). In the Aviation division turnover was £285.7m (2004 - £259.8m) and operating profit was £13.3m against £10.3m in 2004.
4. The company was established in 1833 and its head office is in Edinburgh, Scotland. Today the company is an international operation with businesses in Europe, North and South America, South East Asia, Australasia and Africa.
5. Menzies Distribution is a leading provider of added value distribution and marketing services to the newspaper and magazine supply chain in the UK. The division handles 4.5 million newspapers (6 million on Sundays) and 2.5 million magazines (covering 3,000 magazine titles) each day, with deliveries to more than 21,300 customers.
Its success in 2005 in achieving high standards is evidenced by winning the 'Wholesaler of the Year' award from the National Federation of Retail Newsagents and the Gold award at the Association of Circulation Executives awards. It also won the Orange Award for Bright Business at the National Business Awards for Scotland for its Launch Factory marketing initiative to maximise sales of new titles.
6. Menzies Aviation is one of the world's major independent suppliers of ground handling services to the aviation market providing passenger, ramp and cargo services for many of the world's leading airlines and some of the busiest international airports. The division employs over 10,500 people across the world, at 93 airports in 23 countries servicing more than 500 aviation customers.
The Division won various awards in 2005, including the 'BA Way' award for the handler which most closely matches the way BA wants its outsourced handling performed and the 'Most Responsive Handler' award also from BA for the way in which it helped restart their operations at Houston after Hurricane Wilma.
7. Further information on John Menzies plc can be found at: www.johnmenziesplc.com, www.menziesdistribution.com and www.menziesaviation.com.
