AM Online

Manbat halts rival takeover talks

UK battery distributer Manbat has pulled out of talks to acquire Energy Batteries. 

Manbat said after exploring the move it decided the acquisition of its rival would “not make financial sense”.

The two companies began talking about the acquisition in October after Manbat initiated the discussions.

A Manbat spokesman said it plans to grow from a
£10 million a year business to a £20 million company over the next few years by increasing its branch network. 

Manbat, which employs around 100 people, has nine branches and three specialist supply partnerships.

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