Air, Business, Freight News, Logistics

Agility strikes deal to buy John Menzies

[ March 30, 2022   //   ]

Agility Public Warehousing Company has reached agreement on a recommended cash offer to acquire 100% of airport handling company John Menzies , for about £571 million on a fully diluted basis and £763 million on an enterprise value basis.

The board of Menzies intends unanimously to recommend the cash offer to its shareholders.

The combined group is expected to be the largest airport services company in the world by the number of countries it operates in, second largest in terms of airports served, and third largest in terms of revenue.

Menzies Aviation is a global player in cargo, fuelling and ground handling with strong competitive positioning within each of its core focus areas and an excellent reputation in the market. Agility’s NAS arm is also an established aviation services provider in emerging markets, with customers including British Airways, Air France, KLM, Emirates and Qatar Airways. It is also one of the industry’s fastest growing regional aviation services providers, with a presence in more than 55 airports across the Middle East, Africa and South Asia.

Agility sold its freight forwarding arm, Global Integrated Logistics business, to DSV in August 2021.