£98m sale of logistics business completed

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Leeds-based Jet2 ownerDart Group has completed the £98m sale of its distribution and logistics business, Fowler Welch to Culina Group Limited.

Fowler Welch is a provider of food supply-chain services and serves retailers, processors, growers and importers through its distribution network.

In addition, the business has a 50% share in a joint venture fruit ripening and packing business, Integrated Service Solutions, located at its Teynham facility.

As of 31 March 2020, Fowler Welch had unaudited net assets of £60.5m.

In an update this morning, a spokesman for Dart said: “The Board believes the transaction will enable the Group to focus on its long-term strategy of growing its Leisure Travel business and, importantly, enables Fowler Welch to continue to flourish and grow profitably under new ownership.”