A logistics firm in Swineshead has taken on another business in the village, helping sure up its future following the sad death of a partner there last year.
Mason Brothers Cold Storage and Grading Services, of Fairfield Farm, has acquired P. F. Booth and Son Transport and Warehousing, of North End.
It follows the death last year, aged 51, of David Booth, a partner of P. F. Booth and Son.
It has lead to the announcement of expansion plans from Mason Brothers, with jobs expected to be created.
Richard Mason, managing director of Mason Brothers Cold Storage and Grading Services, said: “The Mason and Booth families have been close friends for three generations stretching to almost 60 years and after the tragic death of David Booth last year we acquired the business together with the site.
“Both businesses will carry on as before with staff continuing to serve their regular customers allowing Mason’s growing storage business to develop.
“The acquisition has happened very quickly and a fleet of newly purchased Mercedes trucks with new livery will operate from the North End base.”
As part of the deal, Barclays has provided both term debt and working capital to the Mason Group, which has traded for more than 50 years and now employs in excess of 120 staff. Turnover for the newly combined business is expected to exceed £14million in the current year.
Alastair West, Barclays relationship director, said: “This acquisition has been an excellent strategic move for Richard and his team, providing the business with more storage space that they now own and reducing overhead costs.”