John Menzies buys rest of Irish company in £3.1m deal

THE distribution unit of UK group John Menzies has acquired the remaining 50% of Irish firm EM News Distribution that it didn’t already own for €3.6m (£3.1m) from Eason.

EM News Distribution established as a joint venture between Menzies and Eason in 2006.

Menzies said the acquisition of the newspaper and magazine wholesaler marks a major step in establishing a diversified logistics business in Ireland.

“Taking full control of EM News Distribution gives us the opportunity to bring our full expertise to bear on serving the news trade sector across Ireland,” Menzies finance director Paul McCourt said.

“It also provides us with a similar platform to explore new logistics services in Northern Ireland and the Republic of Ireland, similar to the approach we have been taking across Scotland, England and Wales.”

Listed on the London Stock Exchange, John Menzies has two units — Menzies Distribution and Menzies Aviation. The distribution arm distributes more than seven million newspapers and magazines every day to about 30,000 retailers.

EM News Distribution employs 193 operational staff who will join Menzies Distribution, and holds 44 directly-owned vehicles from a total fleet of 201.

EM News Distribution has depots in Belfast, Dublin, Cork, Urlingford, Galway, Limerick and Londonderry.