Far Logistics has acquired Warrington based Candour Logistics which is forecast to generate £50m in revenues this year. Both businesses focus on maritime shipping and have enjoyed growth in demand for services relating to goods ordered online from China for UK by UK customers. Figures from ONS for Q2 2020 showed that the UK bought more goods from China than ever before representing £11bn in inbound trade.
“The maritime industry is evolving. It has always been a bit behind the digital curve. I saw this three years ago and realised we could benefit from being stronger in many ways, with IT and a global infrastructure,” commented Candour Logistics co-founder John Keary, adding: “Internally there is also going to be more opportunities for the team. As a business, the deal solidifies our position, and ultimately makes us stronger.”
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