Nov 20 - British supply chain group Wincanton Plc said on Thursday it agreed to merge its chilled consolidation activities in the UK with Culina Logistics Ltd, effective March 28, 2009. No financial details were disclosed.
Wincanton, which transports everything from raw materials to goods for recycling, said it would retain a 20 percent equity stake in the enlarged business, which will be managed and operated by Culina, a provider of chilled logistics solutions to the food and drink industry.
The company said it expects the transaction to be broadly earnings neutral in the first year. Shares of Wincanton were untraded early on Thursday after closing at 164.75 pence on Wednesday on the London Stock Exchange.