Sitra Group acquires Abbey Logistics
Sitra Group, established in 1962, is a family-owned business with a 2022 turnover of €165 million, operating in 11 countries, including the UK.
They own 700 trucks and over 2,000 trailers/containers, specialising in liquid and powder food tankers.
Abbey, a UK-based tanker operator, focuses on the food industry with a £75 million (€85 million) turnover, employing nearly 600 people and operating 325 trucks and 550 trailers.
Since 2016, Abbey has been mostly owned by private equity firm NorthEdge Capital.
Former CEO and chairman of Abbey, Steven Granite, mentioned the successful transformation of the company and expressed confidence in Sitra Group's ability to further develop the business.
He said: “Since our MBO we have successfully transformed Abbey from a £45 million (€51 million) turnover family business to a £75 million (€85 million) market leader and refocused the business on its core strengths as a specialist tanker operator in the UK.”
David Patten, group managing director of Abbey, added: “I have worked with Sitra as a supplier during my time as a customer in Europe and I hold the company and its people in high regard.
“It is an exciting time in Abbey’s history to once again be part of a family-owned business and I am over the moon to be joining the Sitra team. This is great news for our employees and customers.”
Sitra Group is owned by the Saelens family and Creafund.
Sitra Group CEO David Saelens said: "Sitra Group is delighted to announce the acquisition of Abbey Logistics Group.
“It is a milestone in Sitra’s history to acquire a renowned, well-established company like Abbey. Together with our partner Creafund we have been working almost a year on this deal and to now welcome the whole Abbey family to the Sitra group feels as the cherry on the cake.”