Stobart could bid for Autologic
WARRINGTON-based distribution giant Stobart is in talks with Northampton-based vehicle fleet distributor Autologic about a potential bid for the company.
An announcement by Autologic Holdings yesterday afternoon stated that the company, which last year made a pre-tax profit of £2.1m on sales of £144.7m, confirmed that it was in talks with Stobart Group “regarding a possible cash offer” for the business.
It added, however, that there was “no certainty” that an offer would be made.
Last week, Stobart Group revealed that its pre-tax profit for the year to February 29 had edged up by 3% to £30.5m, while revenues increased by 10% to £551.9m.
