Exel bids to acquire rival Tibbett & Britten

June 17, 2004
United Kingdom logistics firm Exel has made a £328 million (US $602 million) offer for its competitor Tibbett & Britten.

United Kingdom logistics firm Exel has made a £328 million (US $602 million) offer for its competitor Tibbett & Britten. With this purchase, Exel would strengthen its presence in the United States contract logistics market, where T&B’s consumer goods and retail customers would complement its own mostly industrial client and freight-forwarding activities. The enlarged company, with combined revenue of £6.7 billion (US $12.3 billion), would dominate the fragmented UK logistics sector and enjoy greater influence overseas.

Exel and T&B both provide contract logistics services to major retailers and manufacturers and enjoy a global footprint in addition to their domestic UK operations. In the Asia Pacific region—which Exel has identified as a key strategic market for future growth—Exel would especially benefit from increased coverage and scale through T&B’s established presence.

About the Author

from staff and wire reports

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...

Fleet Industry Benchmarks: How does your fleet stack up?

Discover how your fleet compares to industry benchmarks and gain insights from a 2024 Benchmarking Report on maintenance spend, turnaround time, and more. Join us to identify ...

Build a Tolling Program to Manage Toll Fees and Risks

Fleets looking to effectively manage their operational costs should consider their tolling costs. Download the PrePass whitepaper, “Build a Tolling Program to Manage Toll Fees...

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...