WRIST SHIP SUPPLY ACQUIRES STRACHANS

Global offshore market new target for supplies as Wrist continues rapid

expansion

Wrist Ship Supply, one of the world’s largest ship supply companies, today

announced the acquisition of Strachans Ltd, the UK’s leading independent food

distributor to the offshore catering market. This represents Wrist’s sixth deal in less

than two years following acquisitions in Europe, America and Canada.

The agreement combines Strachans’ specialist offshore market knowledge with

Wrist’s global network, worldwide infrastructure and financial strength and provides

the foundation for Wrist’s expansion into the global offshore oil and gas industry - a

market of significant growth and opportunity. The move will also enable Wrist to grow

its existing operations within the UK.

Strachans will continue to be led by James Strachan and, in conjunction with Wrist’s

worldwide platform, will be able to provide offshore catering organisations and their

customers with a specialist global solution for the sourcing and provision of food and

consumables, as well as deck and engine supplies.

Commenting on the acquisition, Robert Steen Kledal, Managing Director, Wrist Ship

Supply, said:

“Strachans’ specialist offshore expertise and proven track record makes it an

excellent partner through which to capitalise on the opportunities of the growing

offshore market for supplies.”

“Fundamentally it continues Wrist’s rapid growth, as we look for continued and

controlled expansion, strengthening our worldwide operations and creating an

unrivalled global platform for providing supplies to the shipping, offshore and related

markets.”

Both Wrist and Strachans have identified the growing requirement for companies that

work within the offshore industry to find a competent global offering for food and

consumables, as well as deck and engine supplies; a solution that is based on a real

understanding of the challenges within the market, and one that maximises

efficiencies and drives down costs, as well as importantly, improving the quality of

supplies, which is vital for maintaining the welfare of crews and rig employees.”

James Strachan, Managing Director at Strachans, part of the Wrist Group, said:

“This deal provides Strachans, its employees and customers the opportunity to be

part of a thriving global operation. Combining our reputation for service excellence

within the offshore market with Wrist’s worldwide network makes for a compelling

proposition and the chance to build a brand that is known as the global supplier of

choice for the offshore market.”