IFC strikes Ohio deal
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Transport and distribution pup NFC is to buy Ohiosed Distribution Centers, a ecialist in distributing medical cl office supplies, phariceuticals and consumer and per products, for a maximum $45m (28. 6m).
Distribution Centers, which 11 become part of NFC's Exel gistics division, operates out 18 locations in 13 cities :oss the GSA. Its key cusners include DuPont, Lever, octor and Gamble, Suzuki I Toshiba.
An initial cash payment of Om (6m) will be followed by titer payments in 1990 and 92, depending on earnings in 89, 1990 and 1991. NFC says the acquisition moves its logistics division "towards its goal of becoming the world leader in international logistics during the 1990s" and that it will complement the operations of Dauphin Distribution, Exel's existing US distribution company. The company has also just named Mark Bedeman as managing director for European development. He was previously managing director of Exel Logistics — Grocery and Leisure.
111 Exel has also extended its £25m deal with retail group Storehouse to handle warehousing and distribution to 500 Storehouse shops including BUS, Mothercare, Habitat and Richards (CM 29 June 5July).
To service the contract, worth around £90m over five years, Exel has set up a dedicated distribution company, Exel Logistics — Storeflow, which will receive 23m to upgrade its computer warehouse.