Ice Co Storage and Logistics. the distribution arm of Hull-based J Marr Group, has extended its footprint with the acquisition of East Anglian cold storage and logistics firm Savage Haulage. The multi-million pound deal also aims to prevent the impact of the skyrocketing inflation and energy costs.
“The acquisition of Savage Haulage provides us with greater geographic reach and capacity and allows us to benefit from greater economies of scale in the face of inflationary pressures which are eroding margins across the haulage and cold storage industry. Combining operations puts us on a firm footing for growth in the years ahead,” said Paul Martin, Managing Director of Ice Co Storage and Logistics.
With depots in March, Cambridgeshire, and Thetford, Norfolk, Savage Haulage was described as one of the largest temperature-controlled storage and logistics businesses in its region. The £5.9 million turnover company run by brothers Martyn and John Savage, was established 60 years ago and has operating licences for 33 trucks and 33 trailers.
“Ice Co Storage and Logistics is a family company with the same values and ethics as ourselves. They are committed to continuing the existing operations, retaining existing personnel in the same positions and creating further opportunities in East Anglia as they take the business forward,” added Martyn Savage, joint Managing Director of Savage Haulage.
With a pallet capacity of 51,000, Ice Co Storage and Logistics operates blast freezing and tempering services. It offers bespoke third party cold storage and transport and distribution services nationwide and has six sites which include its headquarters in South Kirby in Yorkshire and depots at Newcastle and Preston. Moreover, its operating licenses includes a fleet of 54 trucks and 100 trailers.
“The distribution and storage sector is highly fragmented with many owner-managed SME operators. Consolidation is occurring as operators seek to grow through acquisition and reduce marunit costs through economies of scale and other operational efficiencies by combining resources and extending the range of services offered to customers. Ice Co Storage & Logistics is a natural fit with complementary customers and Savage Haulage offers them a tremendous opportunity for geographic expansion,” added in conclusion Stephen Reed, partner at accountancy firm Price Bailey, which was appointed by Savage Haulage ahead of the sale.