Stobart buys container operator O'Connor for £23m

Parcelled up with the headline-grabbing announcement that Eddie Stobart had been merged was a brief mention that the new group had acquired Widnes-based container haulage and storage business O'Connor Group.

The firm was bought for £23m and means that the newly formed Stobart Group will be able to offer intermodal services through O'Connor's Widnes rail terminal located in the 3MG Logistics Park.

Peter Lea, commercial director at O'Connor, says that the deal is a massive boost for the company. He adds: "The company was owned by the O'Connor family until this morning and although we have achieved tremendous growth over the years, the fact that we now have Westbury and Stobart behind us means that it opens up so much more potential."

Lea says the firm was not looking to sell but when it was approached by property developer Westbury "and everything considered the timing seemed right".

Although the firm is currently based in the North-West Lea says that he is not ruling out geographical expansion. "The possibilities are endless," he adds.

He says the takeover will mean that O'Connor's plans for expansion are accelerated. "Of course now the plans can be bigger and better," he reports.

The company currently runs around 80 trucks from its 39-acre site which has the capacity to store 5,000 containers.

In its last set of accounts it made £1.6m in pre-tax profit on a turnover of £11m.