East of England-based Potter is to bail out of the logistics sector and concentrate on property development.
It has sold the the warehousing and transport operations at five sites belonging to Potter Logistics Ltd to International and UK logistics specialist W H Bowker Ltd has announced that it is acquiring for an undisclosed sum.
The operations are located at Droitwich, Knowsley, Ripon, Selby and York.
The acquisition makes W H Bowker Ltd one of the largest players in the UK in the field of specialist chemicals logistics, healthcare and food warehousing and distribution.
As a result of the acquisition W H Bowker Ltd will operate a road transport fleet of more than 200 trucks, in excess of 450 trailers, and over 1m sq ft of warehousing, employing more than 750 people within its Group.
Potter Group (Holdings) Plc will now be a property Investment company focusing on the development of its remaining land assets.
Commenting on the acquisition, W H Bowker Ltd Director Bill Bowker said that, "Potter Logistics is a highly successful family-owned business with a reputation for quality and excellence in service across a range of specialist road transport and warehousing sectors, evidenced by the numerous awards it has won in recent years.
Speaking on behalf of Potter Logistics Ltd, Chairman Derrick Potter says, "As a well-recognised, family logistics business of 51 years standing, a key priority in recent years has been to look to the future of our excellent staff, as well as that of our customers, not simply at the legacy that we have built. We are confident that the Bowker family shares the same cultural ethos that will continue to deliver the same quality of care and to grow the business for the benefit of all concerned. We look forward to a fruitful long term partnership with them."