Savage Haulage, a cold storage and logistics business with bases in March, Cambs and Thetford, Norfolk, has been acquired from its founders in a multi-million pound deal by a Northern rival, The Ice Co. Storage and Logistics. Savage Haulage is one of the largest temperature-controlled storage and logistics businesses in East Anglia and has been a family business for 60 years run by brothers Martyn and John Savage. It generated revenues of £5.9 million in 2021.
Price Bailey advised Savage on the deal which will enable the combined business to strengthen its financial position in the face of major challenges across the sector. The Ice Co. Storage and Logistics has sites across Lancashire, Yorkshire and the North East. Managing director Paul Martin (photo, left) said: “The acquisition of Savage Haulage provides us with greater geographic reach and capacity and allows us to benefit from greater economies of scale in the face of inflationary pressures which are eroding margins across the haulage and cold storage industry. Combining operations puts us on a firm footing for growth in the years ahead.”
Martyn Savage (right), joint MD of Savage Haulage, added: “The Ice Co Storage and Logistics are a family company with the same values and ethics as ourselves. They are committed to continuing the existing operations, retaining existing personnel in the same positions and creating further opportunities in East Anglia as they take the business forward.”
