General Logistics Systems (GLS), a Royal Mail subsidiary, announced today (April 6) that it has acquired USA-based overnight parcel delivery firm Postal Express.
Postal Express is a regional overnight carrier operating in the US states of Washington, Oregon and Idaho. The company offers overnight parcel delivery, mainly to business-to-business customers, across a number of industries. The acquisition follows GLS’s purchase of Golden State Overnight Delivery Service (GSO) in October 2016.
GLS paid US$13.3m for 100% of the shares in Postal Express, which will be managed as a separate entity but consolidated within GLS for reporting purposes. Postal Express generated revenue of approximately US$42m and delivered around 8.7 million parcels in 2016.
Rico Back, CEO, GLS Group, said, “The acquisition of Postal Express is in line with GLS’s strategy of careful and focused geographic expansion.”
April 6, 2017
