LONDON: Britain’s Imperial Tobacco Group says it is reviewing its options in relation to a potential IPO later this year of its Madrid-based logistics company, Logista. “There is no certainty as to the outcome of that review,” it adds.
Imperial acquired Logista in 2008 as part of a reported €16.2 billion acquisition of Altadis, itself the result of a 1999 merger between French and Spanish tobacco monopolies.
According to the latest figures on its web site, Logista had a turnover of €1.01 billion in 2012 with a recurring operating result of €213 million. A report in the Financial Times valued the company at €2.0 billion.
As a result of its parent company, Logista is a leading distributor of tobacco products in southern Europe and also specializes in pharma and publishing logistics – it is the largest book distributor in Spain. Other services include a long distance road transport network – in 2013 it acquired Logista France – and Nacex, an express/courier company.
Earlier this month Nacex announced a partnership with electrical retailer Euronics to leverage a point-of-sale and drop and pick-up network. The company says the tie-up will allow individuals to use Euronics to pick up deliveries as well as orders via Nacex. The express company has a fleet of 1,532 vehicles and a network of 310 agencies in Spain, Portugal and Andorra.
Last December the Carbon Disclosure Project (CDP), a non-profit that gathers data on behalf of 65 companies spending a total of $1 trillion on sustainable supply chains, rated Logista among its top companies. CDP assessed Logista’s management of its climate change strategy and control, emissions management, commitment and verification of reported data and gave it 87 points out of a possible 100 – an improvement of 38 points above the average.