Logista, the transportation and logistics company owned by Imperial Brands, will once again step on the accelerator in its acquisition strategy in the 2025-2026 fiscal year, which began on October 1. A path, that of inorganic growth, in which it acted intensely between 2021 and 2024, but which in the last year has taken a backseat.
“We have the idea of being more active in 2026,” its chief executive, Íñigo Meirás, told investors yesterday. Logista expects to close a first operation in Italy in the first half of the fiscal year, and in particular in the pharmaceutical distribution sector, where it has already taken an important step in 2023 with the acquisition of Gramma Farmaceutici. “We have a purchase opportunity, larger than what we have done, which can give us a greater presence in Italy and which is complemented by our regional presence,” Meirás said.
This brings the purchasing possibilities that Logista currently pursues to “three or four”. And among these the company recognizes purchasing opportunities in the tobacco sector, from which it has been trying to reduce its dependence for years. Hence the purchases in recent years in the land transport, pharmaceutical distribution or parcel sectors.
“It would be a purchase focused on new generation products. There is growth in this segment and we are analyzing whether it can adapt to the current strategy, which is that our main business is not tobacco,” Meirás analyzed. “We have no time pressure, but if it’s possible to do it this year, we will do it.”
Logista’s focus continues, as its CEO has acknowledged, on acquiring small and medium-sized businesses. Where it is not present at the moment is in the land transport sector, despite the fact that the company itself opened the doors to a large purchase at European level a year ago.
“Should we be more cautious when considering acquisitions in the transport sector? Yes, given the recent experience with El Mosca,” Meirás said yesterday. In 2022 Logista acquired a 60% stake in the Murcian company for 99 million euros, a package that progressively increased to 100%, for a total amount of 166 million.
However, its performance over the past year has not been as expected. As Logista explained yesterday in its annual results, El Mosca “has been affected by the macroeconomic situation and the decline in demand”. It also stated that it had initiated “a cost reduction program and implemented a revenue optimization strategy, with particular attention to international transport”. Over the last year Logista has also changed the management of its subsidiary and “has integrated control and regulatory compliance systems according to Logista standards”.
A difficult year also for another of its latest acquisitions, Carbó Collbatallé, specialized in the transport of refrigerated foods. In its annual accounts, Logista states that this subsidiary has suffered a “decrease in activity” and that it “continues to work to improve its profitability”.
“Our goal in the transport sector is the restructuring and completion of the integration of El Mosca and Carbó,” Meirás said yesterday.
Logista closed the 2024-2025 accounting year with a net profit of 281 million euros, 8.8% lower than the previous year. It approved a dividend of 277 million, the same amount as that distributed for the 2023-2024 financial year, and committed to maintaining it at least through 2025-2026. Something that, according to what its CEO declared yesterday, it will be able to achieve despite being more active in acquisitions.
