Hemisphere Freight Services makes acquisition
AN INDEPENDENT logistics firm is set to purchase the warehousing and freight forwarding elements of Magnus Group after it was announced that the group was intending to appoint administrators.
The acquisition will see Hemisphere Freight Services (HFS) take on Magnus Group’s warehousing and forwarding divisions, as well as all associated operational staff.
The agreement aims to minimise business disruption to Magnus’ clients, as well as provide continuous employment to their warehousing and forwarding team members. As part of the arrangement, HFS will also take over circa 200,000 sq ft of warehousing space at Magnus Group’s Great Blakenham facility,
25 jobs will be saved as a result of the agreement, which was one of the key priorities for Hemisphere’s board of directors ahead of the proposal to take over the business.
Hemisphere’s managing director Andy Perrin, said: “This is a sad reflection of the current state of the industry and economic conditions, and our offer to acquire the warehousing and forwarding elements of the business was, above all else, an attempt to safeguard the employment and ensure the wellbeing of as many of Magnus Group’s team members as possible – particularly in the run-up to Christmas, when many households are feeling the strain.
“We are incredibly excited to be able to welcome the new team members to the Hemisphere family and to strengthen the exceptional service we’ve always offered our clients.”
The purchase of the two Magnus Group divisions comes at an exciting time for HFS as it prepares to open a new multi-million pound warehouse on the Suffolk Port One Logistics Park development.
The site is set for build and completion by Q1 2024, and will enable the business to provide 34,750 racked pallet locations, which stack nine levels high, and an additional 8000 bulk loaded pallets on floors and mezzanines.
