CEDA and Cedabond are to enter into a formal joint venture, after approving a special resolution at the respective organisations’ virtual assemblies, held today.
During the distributor trade body’s annual general meeting and the buying consortium’s extraordinary general meeting, both memberships approved the resolution, amongst other business.
In a joint statement, CEDA chair, Derek Maher, and Cedabond chair, Mike Nunn, confirmed: “We are delighted that our respective memberships have voted overwhelmingly to approve the coming together of CEDA and Cedabond. There is a natural synergy between our aims and objectives with everything we do being for our members and the wider industry.”
They further detailed: “Whilst both organisations will remain with their independent identity, accounts and governance, in the short-term, work will be undertaken to closer align the two organisations’ resource and outputs to enable any transition to be as smooth as possible.
“We are extremely excited about what we can achieve together. We will collaborate, share knowledge and resource and lead this industry through recovery and back to growth.
“We exist for our members, are owned and governed by our members and deliver for our members and the industry in the UK, every day. We now have the opportunity to do so much more, together.”