NWF Group, the parent company of Nantwich-based Boughey Distribution, is looking for acquisitions to expand its fuel division.
Ahead of the firm's annual general meeting (AGM) today (24 September) chairman Mark Hudson, speaking about the group's fuel distribution business, says: "We are continuing to pursue start-ups and potential bolt-on acquisition opportunities in this division."
Chief executive Richard Whiting tells roadtransport.com: "We are looking to buy into or set up new fuel depots. We are looking at a brownfield site in Sheffield."
He says the decision is based on the profit made from the purchase of five fuel depots over the past seven years.
Last month, NWF revealed that for the year to 31 May 2009, pre-tax profit rose 47.6% to £6.2m, up from £4.2m in 2008, and turnover increased 5.4% to £381m.
Hudson says that during the first quarter of its financial year, Boughey, the group's food distribution arm, is moving towards 24-hour operations and has "robust levels of demand going forward".
"Overall, the group continues to trade in line with expectations and we are working to develop the group further from the strong platform established this year, while maintaining a lower debt," says Hudson.
