Menzies moves into logistics

LONDON (Brand Republic) – Former news retailer John Menzies is transforming itself into a logistics group by buying US ground-handling service company Ogden Aviation Services for £79m.

The deal, instrumented by chief executive David McKay, makes Menzies one of the largest independent suppliers of ground handling services in the world. Pre-tax profits rose 9% to £31.3m for the year ending May 6 and McKay said more logistics acquisitions would come. He also plans to sell the company’s loss-making Early Learning Centre stores. The company sold its newsagent chain to WH Smith in March 1998.