| New Wave swoops for rival |
| Written by Business Weekly | |
| Wednesday, 16 April 2003 | |
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New Wave Logistics, the Japanese owned Milton Keynes distribution specialist, has strengthened its position in the UK market with its first major acquisition of another company.
New Wave Logistics, the Japanese owned Milton Keynes distribution specialist, has strengthened its position in the UK market with its first major acquisition of another company. Part of the global NYK Logistics & MegaCarrier group, Tilbrook-based New Wave has bought Gloystarne out of administration for an undisclosed sum. Based in Rotherham but with an operation in Bury St Edmunds, Gloystarne went under in February after building turnover to £20m with almost 350 staff. It provided storage and distribution services for manufacturers and importers in the grocery sector and delivers to major supermarkets and wholesalers nationwide. New Wave has taken over five key operating locations and is making significant investment in new vehicles, materials handling equipment, warehouse management and IT systems. Key members of the former Gloystarne management will continue to work within the new business. New Wave clients include Casio, EPSON, GlaxoSmith-Kline, Olivetti-Lexikon, Phillips, Pioneer, Sony and Yamaha-Kemble. Malcolm Wilson, managing director of New Wave Logistics, said: “We will use our expertise to fully integrate the company and have secured agreements with all key customers as we prepare to drive the business forward.”
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