Shipping yard

Danish shipping and logistics giant DFDS has bought Grimsby-based cold storage and transportation specialist Quayside Group.

The multimillion-pound deal, which completed on Tuesday, has already helped Quayside purchase eight acres of land neighbouring its Grimsby HQ, which will be used for additional cold storage and depot facilities.

All 260 staff from the £23.5m turnover Quayside Group, including MD Mick Wilkinson, are expected to continue to work at the company, which will switch to the DFDS Logistics name.

“I am very pleased that we have been able to consolidate our services into a much stronger network in the UK,” said head of DFDS logistics and executive vice president, Eddie Green.

DFDS said it expected a 7% rise in group turnover and that the deal would support its goal of securing a return of 10% on invested capital. The group currently has sales of €1.6bn.