Hays Logistics new name and strategy announced
Hays Logistics has announced that it will in future be known as ACR Logistics. The re-branding of the company had been expected for some time following the acquisition from its parent company Hays Plc by US private equity firm Platinum. Xavier Urbain, who formerly headed up Hays Logistics, will remain as Chief Executive.
The company has also revealed that it plans to grow its business by 10% per annum not including external growth. In particular it has plans to strengthen its presence in Germany and Spain, and to expand across Central and Eastern Europe
Although UK based, ACR Logistics has significant operations throughout mainland Europe, especially in France. It employs 17,500 staff and operates 2.7 million sq.m. of warehouse space in 140 sites across 11 European countries. Last year it had a turnover of €1.2 billion.
The disposal of Hays Logistics came as a result of a strategic review by its former parent company which decided to focus solely on its recruitment division. This saw it sell off all its diverse business out-sourcing activities, including logistics. Platinum paid £102.4m (€150m) for the division on a cash-free and debt-free basis. The US company has over the last few years developed a portfolio of what it terms ‘mission critical and solutions’ businesses.
With the change of its name, ACR Logistics has the opportunity to put the inevitable uncertainty of the past eighteen months behind it. Hays Plc originally announced that it was going to sell its logistics division in March 2003 and doubts over its future, followed by a change of identity, will have been disruptive in a fast evolving market.
