(Sharecast News) - Transport and logistics group Eddie Stobart Logistics has acquired the 'Eddie Stobart' and 'Stobart' trademarks from a subsidiary of Stobart Group, the London-listed aviation and energy group.
Eddie Stobart said on Thursday that it had entered into an agreement to licence the Eddie Stobart brand to Eddie Stobart Logistics for a £13.7m premium fee as part of the initial partial sale of the Eddie Stobart business. Under the terms of the 15-year deal, the first six years would be royalty-free.
Stobart Group will now be required to change its name by 28 February 2021.
"The acquisition of the brand will help stakeholders more easily to differentiate between the Eddie Stobart Group's logistics business and the Stobart Group's aviation and energy businesses, as the Stobart Group will transition to a different name," said the firm.
The AIM-listed group also said its recent acquisition of funds managed by DBAY Advisors and the implementation of measures aimed at reorganising and streamlining operations were both expected to "positively impact" full-year results.
As far as Covid-19 was concerned, Eddie Stobart said while there had been some volume reductions in parts of the business, the firm also said it had benefited from its traditional "strong exposure" to fast-moving consumer and grocery goods, as well as its e-commerce related activities.
As of 1340 BST, Eddie Stobart shares were up 10.41% at 8.06p.
6 Dec 2019 13:22
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