Wincanton offloads European businesses
Haulage firm Wincanton announced its exit from mainland Europe today after agreeing the sale of businesses employing 3,000 staff.
The deal with logistics firm Rhenus covers Wincanton's operations in 38 locations in Germany and its businesses in France. Chief executive Eric Born, who took the helm in December, said the proposed disposal will enable Wincanton to focus on its core UK market. The sale price is 44 million euros (£38.5m), while Rhenus will assume a pension deficit of around 30 million euros (£26.2m).