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Red Funnel sells haulage arm to Steve Porter Transport

Published to the CV Show website on
24/06/2011

Joanna Bourke
Tuesday 21 June 2011 13:35

Steve Porter Transport Group has acquired Isle of Wight neighbour Red Funnel Distribution for an undisclosed sum.

Steve Porter Transport, which has sites in Cowes and Portsmouth, says the transfer of employees and operations from Red Funnel Distribution's Southampton and Newport depots will be a gradual process.

"This exciting development unites two market leaders with a combined 110 years in cross-Solent freight business. Together, we are uniquely positioned to provide a superior and comprehensive set of solutions to companies with cross-Solent requirements," says company chairman Steve Porter.

The combined businesses have a licence to run 48 vehicles and 83 trailers.

Red Funnel Distribution parent company Red Funnel, the Prudential-owned ferry operator, says it sold its transport arm as part of a restructure.

For the full story see Motor Transport on 27 June.

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