Stobart takes over chilled food operation
02/07/2008
The company has taken over Innovate Logistics' chilled goods operation from BDO Stoy Hayward, thereby safeguarding around 1,300 jobs.
Innovate was owned by Icelandic shipping firm Eimskip until it went into administration on Monday.
Andrew Tinkler, chief executive of Stobart, said the takeover is a safe way of expanding the company's presence in the chilled food market.
"We are committed to safeguarding the jobs of 1,300 people who may otherwise have been unemployed and we look forward to welcoming them to the group," he added.
Last month, Stobart Group reported a pre-tax profit of £3.5 million and revenues of £108.8 million in the 14 months ending February 29th.

