Wincanton acquires eFulfilment business
THE 3PL has agreed to acquire 100% of the shares in Caledonia Bidco Limited, the holding company of Cygnia Logistics, a specialist mid-market eCommerce and multichannel eFulfilment provider, from Crescent Capital for a consideration of up to £23.9m on a cash free, debt free basis.
Cygnia serves brands such as BrewDog, Moonpig, Molton Brown, Revolution Beauty, Whittard of Chelsea and Feelunique and has approximately 700 staff, operating from four sites across the UK.
The acquisition is in line with Wincanton's strategic focus on eCommerce and will bolster the Group's growing Digital and eFulfilment business division. Cygnia's highly complementary offering will provide Wincanton with access to exciting new growth opportunities in the mid-market sector. The acquisition follows the Group's investment earlier in 2021 in its state-of-the-art, automated eFulfilment facility in Rockingham, Northamptonshire, to create additional capacity to drive growth in eCommerce.
Cygnia will continue to operate as a brand within the broader Wincanton Group.
