CUMBRIAN haulage giant Eddie Stobart has been bought by Appleby-based company W.A. Developments Ltd.

W.A. Developments (International) Ltd paid an undisclosed sum for Britain’s best-known haulage company. Eddie Stobart wagons are a familiar sight on motorways all over the country and the company has a fan club of more than 25,000 members, a range of toys and other merchandising and has even spawned a new hobby of “Eddie spotting” with exponents across the world. W.A. Developments is expected to continue the business under the Eddie Stobart name when it takes over complete ownership on November 1. The company is owned by Kirkby Stephen businessman Andrew Tinkler and William Stobart, brother of Eddie Stobart chief executive and chairman Edward Stobart.

William Stobart was already a co-owner and director of the haulage firm. Together the Stobart brothers are rated as the 558th richest people in Britain in the Sunday Times Rich List which “cautiously estimated” the company’s worth at £60 million.

Andrew Tinkler worked as a fitter in the Eddie Stobart garage for a year before he started W.A. Developments in 1987. The firm has specialised in railway safety and maintenance and has contracts with railway infrastructure company Network Rail.

Edward Stobart is to step down as chairman and chief executive of the haulage firm, but a statement from the company said he would be available to help “where his knowledge and experience are required”.

In 2001 the Eddie Stobbart posted losses of £933,000 on sales of £126.8 million but Mr Tinkler said he expected the firm’s turnover to show an improvement for 2003.

A statement by W.A. Developments said both parties were pleased and “looking forward to the future development, growth and success” of the firm.