Leeds-based Dart Group, owner of Jet2.com and Jet2holidays, said on Monday it completed the sale of its distribution and logistics business Fowler Welch to Culina Group Limited for £98 million in cash.
Fowler Welch is a provider of food supply-chain services and serves retailers, processors, growers and importers through its distribution network.
In addition, the business has a 50% share in a joint venture fruit ripening and packing business, Integrated Service Solutions, located at its Teynham facility.
At March 31, 2020, Fowler Welch had unaudited net assets of £60.5 million.
Dart Group said: “The board believes that the transaction will enable the group to focus on its long-term strategy of growing its leisure travel business and, importantly, enables Fowler Welch to continue to flourish and grow profitably under new ownership.”