NFT Distribution has bought out Carmarthenshire-based NR Evans in a deal worth around £20 million.

The acquisition increases NFT’s strategically-located UK distribution centres to 17, following the addition of nine facilities operated by NR Evans.

The deal will improve NFT’s all-round offering, strengthening its service in rapidly developing areas such as chill, ambient and milk FMCG supply chain.

David Frankish, CEO of the Derbyshire-based logistics firm, said: “We believe that the combination will not only create a considerable increase in scale, reach, and infrastructure, but also – combined with the capability of our people, recently augmented by the recruitment of new board members with specialist skills – results in the emergence of NFT as a business with an increased international focus on grocery supply chains.”

The NR Evans deal marks the third acquisition in the UK logistics market in the last 12 months by Hong Kong-based private equity investor EmergeVest, which owns NFT.

Heath Zarin, managing director of EmergeVest, said this latest buy-out would “not be our last”, with NFT in a good position to expand its UK service and to enter new overseas markets, and hinted at further acquisitions in the near future.