Blakemore Wholesale has acquired Lowries Wholesale for an undisclosed sum.
The purchase, which includes Lowries’ three depots in Killingworth, Hexham and Penrith, had been prompted by the forthcoming retirement of Lowries owner Peter Lowrie, Blakemore said.
“We are very pleased to have acquired this excellent family company, which is a good fit with our own business and gives us an increasingly strong presence in the North East,” added Blakemore MD Sam Wilcox.
“The strength of Lowries is a credit to Peter, which he has run successfully for more than 30 years and we wish him all the best for a long and happy retirement.”
Peter Lowrie added that he was “very happy to sell to another family-owned business with similar values”.
Lowries was formed in 1983. It is also a long-serving member of wholesale buying group Landmark Wholesale.
Landmark’s managing director, Martin Williams, said: “Lowries has been a fantastic member and we are delighted that the business has gone to a fellow Landmark Wholesale member following Peter’s decision to retire and sell. The strength of Lowries is a credit to Peter and to the business, which he has run successfully for 30 years, and it is a credit to the group that Blakemore wanted to buy another member’s business.”