Fuels and feed firm expands into South West with acquisition

Cheshire firm NWF Group has made its second acquisition of the current financial year.

The Nantwich based distributor of fuel, food and feed has announced it has acquired Consols Oils Limited, the second fuels acquisition in the current year.

The firm says the deal is in line with its strategy to grow and consolidate its fuels distribution business.

The group is now the third largest player in the UK.

Consols Oils is a 25 million litre fuel distributor based in Redruth, Cornwall.

The acquisition will expand NWF’s UK coverage by adding a leading supplier in West Cornwall, a new area for the firm’s fuels business.

The acquisition also supports the group’s development in the South West.

A stock market statement said: “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 acquisition of Midland Fuel Oil Supplies Limited (announced on 12 December 2018) has been integrated into the Kenilworth depot as planned and is performing well.”

Current trading is in line with the board’s expectations for the full financial year ending 31 May 2019 after the completion of the important winter period.

The firm said it expects to issue a year end trading update in mid-June in line with its prior year practice.