Author Topic: Newbury & District Takeover  (Read 308 times)

Offline SURREYMAN

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Newbury & District Takeover
« on: September 20, 2018, 03:23:59 PM »
Being reported that Reading Transport has acquired Newbury & District operation from Weavaway Travel.

Offline SURREYMAN

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Re: Newbury & District Takeover
« Reply #1 on: September 20, 2018, 03:29:40 PM »
From Coach & Bus Magazine: -

"All services will initially continue unchanged

The two operators have worked together for a number of years on the Jet Black 1 service
Reading Buses has announced the acquisition of Newbury & District’s operation in the Newbury and Thatcham area.

Jointly employing over 600 staff in the area, the two operators have worked successfully together for a number of years on running the Jet Black 1 route, which operates between Reading and Newbury.

According to Reading Buses, the acquisition “fits well with its current expansion” and is “a strategic move to strengthen its offering in the West Berkshire area.”

The news follows Reading Buses’ successful operation of the Kennections service under contract to West Berkshire Council, a route which the operator has run since September 2016.

"Tony Pettitt, Interim Chief Executive Officer at Reading Buses, commented: “We have been looking at ways of strengthening and expanding our network and, after the recent success with our Green Line and Thames Valley services to the east of Reading, we realised we had a great opportunity on our own doorstep.

“We will be sorting out all the details and ensuring there is a smooth transition so that customers will see no disruption to their services.

“Initially, Newbury & District will be running all of its services exactly as at present, whilst further into the future we may look at merging some routes and harmonising branding.”

Simon Weaver, outgoing Managing Director of Newbury & District, added: “Reading Buses has evolved into a multi-award-winning business synonymous with style and innovation.

“We are delighted that our customers and staff will be in such safe hands.”

Online Julia_Hayward

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Re: Newbury & District Takeover
« Reply #2 on: September 20, 2018, 04:48:37 PM »
History repeats itself then...

Offline Cheltonian

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Re: Newbury & District Takeover
« Reply #3 on: September 20, 2018, 06:37:32 PM »
The Reading company that took over Newbury from Red & White at that time was Thames Valley
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Online Julia_Hayward

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Re: Newbury & District Takeover
« Reply #4 on: September 20, 2018, 07:04:59 PM »
Yes, but Reading took over the Newbury garage of Thames Valley's successor (can't remember if it was Alder Valley North or Bee Line by then), closing it down in 2011 at which point N&D appeared to take over the work left behind.

Offline SURREYMAN

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Re: Newbury & District Takeover
« Reply #5 on: September 20, 2018, 07:17:39 PM »

Accounts ending 31/03/2018 show that N & D made a net loss of £304,919 on a turnover of £2.3M.
Weavaway (The Newbury based coaching company that shares the Greenham depot), made a net loss of £62,782 on a turnover of £1.6M.
Tappins (Didcot based coaching co) made a net profit of £3641 on a turnover of £3.3M.
I'm not an accountant but would hazard a guess that Tappins profits have been covering the other companies losses.
All 3 companies are owned by the same party.