Business, Feature, Freight News, Logistics, Road

M&S to buy Gist

[ July 21, 2022   //   ]

Marks and Spencer Group is to acquire its long term food distribution partner Gist from BOC Group subsidiary, Storeshield. M&S will acquire the entire share capital of Gist for an initial £145m in cash with a further £85m plus interest from the proceeds of the intended onward disposal of freehold properties. M&S could also retain the freehold properties should it wish to do so for the full amount of £110m.

As well as domestic distribution to M&S and other companies, Gist also operates a global freight management service including customs clearance and container collection with onward distribution throughout  with an international depot in Hemel Hempstead regulated by the Department for Transport (DfT) for Aviation Security. As well as its ten-strong UK depot network, it also has facilities in Ireland, the Netherlands and on the US west coast.