UK-based business, Palletline Logistics, has announced its acquisition of the pallet distribution and warehousing elements of Ningbo Palletised Distribution.
Under its new ownership, the business will operate as Ningbo Wrexham and Ningbo London which between them employ 120 staff and operate 70 vehicles.
Established in 1994 by Chris Stockton, the company transferred the skills it had accumulated while supplying and delivering nationwide contract furniture and branched out into the distribution sector – a strategic decision that allowed the company to widen its range of services. The company has also been a member of Palletline since 2015.
The company’s core activities include palletised distribution, walking floor bulk distribution, storage and warehousing, pick and pack, contract furniture sales and commercial property.
It is the ninth acquisition undertaken by Palletline Logistics, which is part of the palletised freight distribution network Palletline, since it was formed in 2015 with the objective of maintaining optimum levels of service.
“We are delighted to add Ningbo Wrexham and Ningbo London to the Palletline Logistics portfolio,” said Palletline Logistics Managing Director, Paul Elson.
“The acquisition will provide us with a platform for growth in London and Wales and not only ensure sustainability for the business and its employees, but also our ability to continue to provide high levels of service to Ningbo’s customers.”
Chris Stockton, Managing Director of Ningbo Palletised Distribution also said: “Having spent the past 25 years growing and diversifying the business, I am delighted that Palletline Logistics will be taking over the pallet distribution and warehousing parts of the Ningbo business.
“The deal allows me to focus on walking floor bulk haulage, online contract furniture sales and commercial property rentals, and I’ve retained 40 employees to support and develop those sectors.
“I thoroughly enjoyed my time as a Palletline shareholder member and I am confident that the Logistics team will continue to value and support our employees and our highly-regarded customer base.”
Palletline, established in 1992, operates 87 depots providing cost-effective pallet distribution to businesses across the UK and Europe.