GLS ACQUIRES SPANISH EXPRESS PARCELS DELIVERY COMPANY, REDYSER TRANSPORTE

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phx.corporate-ir.net/phoenix.zhtml?c=251825&p=irol-newsArticle&ID=2329647

1 February 2018



GLS ACQUIRES SPANISH EXPRESS PARCELS DELIVERY COMPANY, REDYSER TRANSPORTE



Royal Mail plc (RMG.L) today announces that General Logistics Systems (GLS) has acquired the Spanish express parcels delivery company, Redyser Transporte (Redyser).



Redyser will further enhance GLS Spain's domestic offering and strengthen our position as Spain's second biggest express parcels network following our acquisition of ASM Transporte Urgente in June 2016.



Headquartered in Murcia, Spain, Redyser predominantly serves the express parcels segment delivering around 14 million parcels annually. It operates through a network of over 200 agencies and franchises and 12 own operated sites in Spain's main cities.



The total consideration paid for 100% of the shares in Redyser is €16.5 million (approximately £14.5 million1). Redyser generated revenue of approximately €45 million in the year ended 31 December 2017. Redyser will be consolidated within our existing Spanish operations.



Rico Back, Chief Executive Officer, GLS Group, said: "Following the successful acquisition and integration of ASM, Redyser supports our strategy to scale up and grow existing businesses in our core markets. Redyser will help GLS provide a broader offering and expand our presence. Redyser customers will benefit from a strong European network."