• Loss-making Bees Security Distribution has been acquired by Rockwood Holdings in a deal valued at £500,000.
6th April 1989, Page 16
6th April 1989
Page 16
Page 16, 6th April 1989
— • Loss-making Bees Security Distribution has been acquired by Rockwood Holdings in a deal valued at £500,000.
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Rockwood issued 500,000 new ordinary 21 shares which were bought by finance company 3i (70%) and Bees management (30%).
Rockwood says there will be some rationalisation at Bees, which lost 2313,000 before tax last year on a turnover of 26.4 million.
There were some redundancies at Bees just before it was acquired by Rockwood when the company shut its Feltham office.
• Rockwood Holdings has also acquired freight forwarder Meadows Canada and Able Customs Brokers for an undisclosed sum. Rockwood is expected to record a major growth in its turnover when it publishes its annual figures this week.