Connect Group plans to buy Tuffnells
SPECIALIST distributor The Connect Group plans to acquire Sheffield-based Tuffnells Parcels Express, which employs 2,000 staff around the UK.
The Connect Group described the proposed deal, which is for an initial consideration of £113.4m, as “a significant strategic opportunity”.
Mark Cashmore, the group chief executive of Connect, said “We are delighted to be announcing the acquisition of Tuffnells today, which we believe offers significant strategic and commercial opportunities for the enlarged group. The addition of Tuffnells will see us broaden our reach into an area of specialist distribution which complements our core skills and competences of time sensitive distribution.”