Stuart Hancock Sells his Stake in Magnavale
Stuart Hancock has sold his stake in Cold Chain Federation member Magnavale Group to pursue new ventures.
He will continue to be involved in the coldchain industry. “I remain deeply committed to the cold storage and food production industry and, I’m keen to work with the many friends and business contacts I have made in the sector on an projects they feel I can contribute to,” he said in a statement.
Hancock says US-led investment into the UK supply chain will drive increased automation and he has invested in a robotics business.
“Ever tighter margins, post-Brexit labour supply issues and the rapid advancements of technology mean that the time is right to focus on the potentials efficiencies offered by reducing the links in the supply chain, reducing final mile delivery costs and utilising robotic automated systems to replace labour intensive processes,” Hancock said.
“The coronavirus pandemic has been a stress-test for the everyone in the food supply chain and it has revealed a number of opportunities where I can use my knowledge and expertise to provide innovative solutions to enable businesses to be more cost efficient and competitive in these uncertain times.”
Hancock started in the transport office of haulage company Phil HanLey and subsequently became the company’s managing director before selling the business to Innovate Logistics. He formed cold store rental business Via Coldstores in 2010 which was followed by the launch of Magnavale in 2013 with Rick Bestwick as its core business. Further acquisitions followed: Via Coldstores, Cold Move, and the Liverpool site that includes an automated store formerly run by the Frederick ice-cream company.