The Westbury Property Fund Limited (‘Westbury’), the commercial property and ports company, announces a proposed merger1 with Eddie Stobart Group (‘Eddie Stobart’), one of the most recognised brands2 in the UK. The new, enlarged company, to be known as Stobart Group Limited, will have net assets of over £250m.

The merger brings together two companies which see huge commercial and environmental benefits of combining road transport and storage with rail freight and waterborne transport systems, thereby offering customers a truly integrated transport and logistics solution.

Westbury brings a port development site in Runcorn, a rail freight operating business and a rail terminal in Widnes. Westbury has a strong balance sheet, an experienced Board and an established following from some leading City investors.

Eddie Stobart has a modern, well-invested fleet of more than 1,500 trailers and 900 trucks (tractor units), each christened with its own, unique female name. The business also has circa 2.6 million square feet of storage space across a network of over 27 operating sites (including 10 customer sites) across the UK and one site in Belgium as well as its own rail operations.

Since 2004, Eddie Stobart has been run by the founder’s son, William Stobart and his school-friend and business-partner, Andrew Tinkler. Eddie Stobart will continue with the same strong management group, with Andrew Tinkler becoming Chief Executive Officer and William Stobart becoming Chief Operating Officer.

The combined group will have an established portfolio of long-term, big-brand customers, including Tesco, Coca-Cola, Johnson & Johnson and Sarah Lee, employing more than 2,000 people across the UK - principally in Carlisle, Daventry, Runcorn, Widnes and Warrington. At Widnes, in the North West, the combined group plans to develop over one million square feet of additional warehousing space which could create in excess of 1,000 new jobs.