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Hays buys Abels

16th May 1991, Page 6
16th May 1991
Page 6
Page 6, 16th May 1991 — Hays buys Abels
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Which of the following most accurately describes the problem?

• Abels, the removals and distribution firm which holds the Royal Warrant, has been acquired by Hays Specialist Distribution in a move which both firms view as an opportunity for growth. Hays gains the Norfolkbased firm's five depots in East Anglia, 80 vehicles and 300 staff. Talks had been going on since March. Hays turned over ilOm last year.

"We wanted to buy Abels because we recognised it as the other quality name in home delivery and distribution," says John Moyes, Hays' business development director.

There are no plans to merge Abels or change its name. "We have not made any changes yet," says Moyes, "but we are hoping to grow the business and we hope to grow together."

The purchase gives Derby-based Hays a southern base to service customers such as Marks and Spencer, for whom both firms work.

Abels is a family firm founded in 1961 by Noel Abel who is now semi-retired and pursuing his interest in shire horses. His son Tony took over as chief executive in 1979.

"We had reached a point where family finances were not enough to develop the opportunities that exist," says Tony Abel. "We are very pleased that Hays has acquired the business — it could mean more jobs for local people if we expand."