Pall-Ex purchases Intercounty Distribution for £700,000
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PALL-EX HAS bought Cornish network member Intercounty Distribution for £700,000.
The firm, based on the Pennygillam Industrial Estate in Launceston, has an 0-licence for up to 22 vehicles and eight trailers.
The deal, which was revealed in the pallet network's latest accounts, was completed on 12 October and saw Pall-Ex acquire the entire issued share capital of the company.
Intercounty, which is also part of the Partnerlink consortium, initially served customers in the grocery retail sector, but now the majority of its business comes via Pall-Ex.
The operator's website claims it handles some 2,500 pallets a week in and out of Cornwall and Devon for the network.
MD Nick Coombes has stepped down as a director of the business following the deal, while Pall-Ex deputy chief executive Adrian Russell and network company secretary Martin Field have been appointed directors.