Clipper Logistics in Leeds confirms preliminary takeover approach

Steve Parkin, executive chairman of Clipper Logistics.
Steve Parkin, executive chairman of Clipper Logistics.
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A preliminary takeover approach has been made for retail logistics company Clipper Logistics by private equity firm Sun European Partners.

The Leeds-based logistics provider confirmed reports that an approach had been made in relation to the potential acquisition of the entire issued, and to be issued, share capital of the company.

Clipper added that is no certainty that an offer would be made, nor as to the terms on which any offer would be made.

The business reported profit after tax of £13.4m for the year ended April 30, down from £14.3m the previous year. Revenue was up by 15 per cent to £460.2m from £400.1m.

Clipper clients include the likes of Leeds-based supermarket Asda, Bradford-based grocer Morrisons and retailer Halfords.

Last month, the firm started a new five year contract with Amara Living, the home and lifestyle online retailer.

Steve Parkin, executive Chairman of Clipper, said: “We are delighted to welcome Amara Living to our growing portfolio of international retailers.

“Amara Living has achieved very significant growth since its inception in 2006, and we look forward to working with the team to support its continuing growth trajectory.”

Mr Parkin, a former miner, set Clipper up in 1992.