DUBLIN based transport group Imari has purchased the German freight forwarding company, Teca Deutschland GmgH, in a deal understood to be worth £500,000.

Teca, which is based at Moers near Dusseldorf, will work closely with IMari's British subsidiary, DeLuxe Continental. The company operates a fleet of 350 trailers and steel coil carriers in the British and continental European markets, according to Imari's chief executive, Mr Ted O'Neill.

Announcing the acquisition yesterday, Mr O'Neill said Teca's business "ideally" complements the group's existing trailer business in those markets.

While the purchase price was not disclosed, it is understood that Imari would have paid around £500,000 for Teca, which reported a turnover of DM7 million (12.9 million) last year. The acquisition was funded from the company's own resources.

The Imari group, which employs over 200 people, last year abandoned a proposed merger with the publicly quoted Seafield group.