Clipper Logistics To Develop Distribution Centre To Support John Lewis

LONDON (Alliance News) - Clipper Logistics PLC Tuesday said it has agreed heads of terms with The John Lewis Partnership to provide a range of retail support services from a new distribution centre in Milton Keynes under a proposed ten-year agreement.

The new distribution centre will provide over 300,000 square feet of capacity, and Clipper Logistics is currently in the process of selecting a final location for the centre. Initial activity under the deal will start in the middle of 2016 to support John Lewis' new distribution centre in Magna Park, also in Milton Keynes, it said in a statement.

No financial details were released regarding the deal.

Clipper Logistic shares were up 3.9% to 167.86 pence per share on Tuesday afternoon.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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