John Menzies to acquire UK based portfolio of businesses

Distribution firm John Menzies has reached agreement for Menzies Distribution, its newspaper and magazine wholesaling subsidiary, to acquire the entire issued share capital of Orbital Marketing Services Group, a portfolio of UK based logistics and marketing services businesses.

Distribution firm John Menzies has reached agreement for Menzies Distribution, its newspaper and magazine wholesaling subsidiary, to acquire the entire issued share capital of Orbital Marketing Services Group, a portfolio of UK based logistics and marketing services businesses.

The total cash consideration, which will be funded from existing banking facilities, amounts to £13.6m, with £7.7m payable now and a further £5.9m payable on December 31st 2014. A further consideration of up to £6.3m will be paid only if exceptionally high levels of profit performance were to be achieved by December 2014.

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