UK-based logistics service provider Tibbett & Britten has put in a bid to buy a 27.5% stake in the German reverse logistics specialist VFW.

T&B has agreed to purchase shares held by the chief executive Clemens Reif for £22.2m.

Chairman of Tibbett & Britten, John Harvey, said: “The proposed acquisition allows us to further develop our core activities in Germany, complementing the existing Wal-Mart operations.”