Cheshire-based NWF Group plc, the business that delivers fuel, food and agricultural feeds across the UK, announced it has acquired the trade and assets of Geoff Boorman Fuels from Geoff Boorman Fuels LLP, the company’s second fuels acquisition in the last 12 months.
“This is in line with the Group’s strategy to grow the fuels distribution business, in which the Group is the third largest player in the UK,” said NWF.
“Geoff Boorman Fuels is a nineteen million litre fuel distributor based in Edenbridge, Kent with a largely domestic customer base.
“The acquisition complements Home Counties Fuels, the Group’s Kent based commercial fuel distribution operation thereby supporting the Group’s development in the South-East. The acquisition is expected to be accretive to underlying earnings of the Group, and the £2.6 million consideration has been paid in cash on completion from NWF’s existing cash resources.
NWF’s growth strategy is to both expand the geographic coverage of the fuels business within the UK and consolidate businesses adjacent to the existing depot network. NWF’s acquisition of Sweetfuels Limited (announced on 22 December 2022) has been integrated as planned and is performing well.
Notice of final results for the year ended 31 May 2023
The Company will announce its final results for its financial year ended 31 May 2023 on Tuesday 1 August 2023.