Royal Mail announced it had reached an agreement to acquire eCourier, a same day delivery company operating mainly in the Greater London, UK area and offering nationwide distribution.
According to the announcement, the acquisition of eCourier supports Royal Mail’s strategic objective to enhance its parcel offering, expand its network and expand its presence in the UK parcels market.
Royal Mail stated that eCourier generated revenue of approximately £19m in 2014-153 and eCourier’s main shareholder and CEO, Ian Oliver, is expected to remain in role. The financial terms of the transaction were not disclosed.
Moya Greene, Chief Executive Officer, Royal Mail, said, “Today’s announcement marks another milestone in our strategic objective of increasing our presence in growth areas of the parcels market. Same day deliveries are already one of the fastest growing segments of the UK parcels market.”
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