LONDON, UK: NWF Group plc, the specialist distributor of fuel, food, and feed across the UK, has announced that it has bought Geoff Boorman Fuels, a fuel distributor based in Edenbridge, Kent, for £2.6 million in cash.
The deal is the second fuels acquisition by NWF in the last 12 months, following the purchase of Sweetfuels Limited in December 2022. The deal is part of NWF’s strategy to grow its fuels distribution business, in which it is the third largest player in the UK.
Geoff Boorman Fuels sells 19 million litres of fuel a year, mainly to domestic customers. The acquisition will complement NWF’s existing commercial fuel distribution operation in Kent, Home Counties Fuels, and help the Group to expand its presence in the South-East. The acquisition is expected to boost NWF’s underlying earnings.
NWF said it will continue to look for opportunities to grow its fuels business by expanding its geographic coverage and consolidating businesses near its existing depots. NWF said Sweetfuels has been integrated as planned and is performing well.
NWF also said it will announce its final results for the year ended 31 May 2023 on 27 July 2023.
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