Sixth-generation family group sells off part of its business
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Family-owned business, John Good & Sons Limited (the John Good Group), has sold its Logistics, Forwarding and Liner Agency business, John Good Logistics Limited (Good Logistics), to Denholm Group for an undisclosed sum.
John Good Group, founded in Hull in 1833, will continue to provide Transport and Warehousing services through its subsidiary Trans European Port Services, Port Agency services through subsidiaries Dan Shipping and Chartering and Bay Shipping, and travel services through Good Travel Management.
The proceeds from the sale will be progressively re-invested in the existing businesses and in new trading activities, which focus on the Group’s strategic direction of being predominantly focused upon new innovative and sustainable businesses.
The proceeds will also support the development of the Matthew Good Foundation, the family business’ charitable foundation.
Stewart Oades, chairman at John Good Group, said: “We are pleased to have agreed the sale of Good Logistics to Denholm Group, which will secure an excellent future for Good Logistics and its employees.
“It’s also an exciting time for the John Good Group as we continue to operate in the maritime, travel, haulage and warehousing sectors, explore new opportunities and build a more sustainable business for the long term.”
Good Logistics will continue to occupy Matthew Good House at Bridgehead Business Park, Hessle.
John Good Group will develop a new head office over the next 12 months to support its growth plans.
Directors Alan Platt, Jon Garnier and Seamus Jennings will leave John Good Group with immediate effect and take on senior roles in the Denholm Logistics business.
John Rutherford, deputy chairman of John Good Group, will also sit on Good Logistics’ board during a two-year transition period.