Offers roll in for stricken wholesaler

P&H Trucks

STRUGGLING wholesaler Palmer & Harvey is reported to have received several takeover bids, as it faces collapse over a £50m debt.

Imperial Tobacco and JTI have appointed EY and Deloitte to help advise on options to clear the debt and rescue the company, but last month Sky News reported that Brookfield Business Partners, having just completed a takeover of the road-fuel supplier Greenergy, has tabled an offer for P&H, along with private equity company Carlyle.

P&H is the UK’s biggest tobacco supplier as it transports cigarettes to thousands of corner shops and supermarkets across the country, including Tesco, currently undergoing a merger of its own with wholesaler Booker.

A spokesperson for P&H said: “The process of exploring our options is progressing well. Having received expressions of interest from a number of parties, we are confident of a successful outcome.”