Carryfast sells shares to UPS
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• The US parcels giant United Parcel Service ended months of speculation this week by announcing its purchase of the £31 million-turnover domestic carrier Carryfast.
The £8.3 billion revenueearning corporation has agreed to buy all shares in the privately owned company and will pay in the next few weeks.
Carryfast's 900 employees, 350 vehicles, 17 sites and 4,000 customers generating eight million parcels a year will join UPS's global staff of 256,000 employees and 129,000 vehicles.
Although UPS has offered international services to and from the UK since 1985, it had been searching for around four years for a UK domestic operation. The purchase means that UPS has domestic operations in every major European market.
Carryfast's main shareholders — directors Martyn Oldroyd, Bobby Hazeldine, Tony McClalIan and Phil Kirk — will work on the integration team.
McClallan says: "We need to sit down and see what we have both got between us. There is no point in rushing the way forward".
UPS bolstered its own UKbased international operation in 1990 with the purchase of Seabourne European Express.