Willlenhall-based delivery group Nightfreight is taken over

Willenhall-based delivery group Nightfreight has been taken over by a bigger rival in a deal that will see £20 million invested in the next few years.

Staff have been reassured that there are no plans to cut jobs in the wake of the takeover.

The company, in Ashmore Lake Way, employs around 2,000 people across 53 sites nationwide, running a fleet of more than 1,000 vehicles.

Around 250 of its staff work at the Willenhall hub. It has been acquired by Buckinghamshire-based mail and logistics network DX Group. The deal has been funded from DX's cash resources and the price is not being disclosed, but last year Nightfreight said it expected to achieve profits of £2 million on turnover of £123 million.

Nightfreight specialises in handling odd-sized and shaped items and is seen as a good fit with DX, which employs around 3,000 across its network handling one million parcels every day.

DX spokesman Andrew Baud said: "The deal is not expected to have any impact on staff numbers at either business, which will continue to be run separately."

And DX chief executive Petar Cvetkovic promised £20 million investment in Nightfreight "over the next few years".

The deal creates the biggest independent mail, courier and network distribution business in the UK and Ireland.

The plan is for the two companies to co-ordinate their sales and marketing work. Combined revenue for the two businesses will be approximately £300m a year.

Mr Cvetkovic, said: "The acquisition of Nightfreight by DX represents an outstanding opportunity for both organisations' customers and colleagues.