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GLS buys Postal Express

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TrueBlueTerrier
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GLS buys Postal Express

Post by TrueBlueTerrier »

http://postandparcel.info/79267/news/gl ... l-express/" onclick="window.open(this.href);return false;

Royal Mail’s General Logistics Systems (GLS) has bought the US-based overnight parcel delivery company, Postal Express.

Postal Express operates in the states of Washington, Oregon, and Idaho, mainly working with business-to-business customers.

This latest acquisition follows on from the GLS purchase of Golden State Overnight Delivery Service (GSO) in October.

The total consideration paid for 100% of the shares in Postal Express is approximately $13.3m (around £10.6m).

Postal Express generated revenue of around $42m and delivered around 8.7m parcels in 2016.

In a statement sent to Post&Parcel today (6 April), Royal Mail said that Postal Express will be consolidated within GLS for reporting purposes but managed as a separate entity.

Rico Back, Chief Executive Officer, GLS Group, commented: “The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion.”
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Decky Boy
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GLS buys Postal Express

Post by Decky Boy »

Good to see some prudent acquisitions by our European arm :Very Happy
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britwrit
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GLS buys Postal Express

Post by britwrit »

Decky Boy wrote:Good to see some prudent acquisitions by our European arm :Very Happy
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clashcityrocker
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GLS buys Postal Express

Post by clashcityrocker »

Rico Back, Chief Executive Officer, GLS Group, commented: “The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion.”
Sounds a bit like the Third Reich.
First we annexe the Sudetenland.......
The societies of consumption and squandering of material resources are incompatible with the idea of economic growth and a clean planet.
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Andy51
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GLS buys Postal Express

Post by Andy51 »

Got money for that but got no money to put in the pensions
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