Leading European temperature-controlled vehicle manufacturer, The Reefer Group, has taken another strategic step in the UK with the acquisition of Paneltex Ltd.
Paneltex joins other brands Chereau, SOR Iberica and Aubineau as part of the Reefer Group, which is expanding its product range and geographical reach.
As part of the purchase Ocado Holdings Limited will exit from Paneltex as a shareholder.
Founded in 1991 by Christopher Berridge, Paneltex will continue to operate in Hull and from sites throughout the UK to deliver temperature-controlled solutions to clients seeking vehicles which meet and exceed their operational requirements.
The acquisition with see Paneltex gain the support of the group operating in Europe, which strives to meet the environmental, technological and logistical challenges of the evolving cold chain sector.
Under the deal, Berridge will continue to work day-to-day at the helm of the company to oversee the transition and integration into The Reefer Group.
“I am proud to have led the company to this moment and will continue to strive for progress and success in a challenging market,” said Berridge.
“It has been a privilege to have worked with the incredible team at Paneltex and with Ocado, which has done so much to lead the grocery home delivery market through its bold innovation and industry-defining customer proposition.
“Paneltex will continue its close working relationship with all our customers, as we press forward with developing tailor-made solutions for the delivery of temperature-controlled goods in a world where advanced technology has the potential to revolutionise products and manufacturing systems.”
Due to a range of investments made by Paneltex over recent years the Reefer Group will benefit from significant operational industrial assets across six sites in the UK.
Paneltex’s product range, which will be absorbed by the Reefer Group, includes:
- High value-added vehicles for last mile transport.
- 5-metre-high double-deck semi-trailers specific to the UK market.
- Portable cold stores for the UK and export markets.
- Refrigerated vehicle body kits, enabling significant sales growth in major export markets (including the USA).
The Reefer Group also acquires a strong team at Paneltex, with more than 600 employees, who will support the Group as a partner to customers in the UK, Europe and internationally.
Chairman of the Reefer Group Chairman, Damien Destremau, said: “This acquisition marks another step forward in building a group that is resolutely focused on the future.
“After Aubineau, the arrival of Paneltex reinforces our vision – to be a trusted partner for our customers and to actively contribute to the sustainable transformation of refrigerated transport.”
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