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NFC takes on America with a third company acquisition

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4th February 1988

Page 19

Page 19, 4th February 1988 — NFC takes on America with a third company acquisition

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• The National Freight Consortium has bought its third American company, Allied Van Lines, for $100 million (256.98 million). The acquisition comes only a few months after NFC's disastrous deal with another US company, Four Winds, which fell through last April. Allied, based in Chicago, is a removals company with a turnover of $600 million (2341.88 million). The agreement gives Allied's 790 agents an option on 3% (worth up to $20 million — £11.4 million) of NFC's expanded share capital.