1150m for Euro shopping
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• Christian Salvesen is stepping up its hunt for acquisitions after a 25% increase in profits.
The Northampton-based company plans to spend up to 1150m buying logistics operators active in France, Italy and the Benelux countries.
In 1999 Salvesen spent .170m to snap up Gerposa in Spain; it also has a strong presence in Germany.
"The current balance sheet would allow the company to spend between £100m and £150m probably on more than one deal," says a spokesman. "The overall strategy is to build a pan-European network.'
Last year Salvesen bought Lincolnshire-based Tinsley; a spokesperson predicts further "in-fill'' acquisitions in the UK food and consumer goods sectors.
Salvesen's made a pre-tax profit of £40.3m on a .1666m turnover, an increase of 13%.