CitySprint, a UK-based express delivery company, announced that it has entered into an agreement to acquire the express delivery company CYC Logistics.
CitySprint states that it has acquired CYC Logistics because of its fleet’s scale, its range of customers across sectors, its two London, UK, service centres and its international partners. The company claims that the addition of CYC Logistics’ courier fleet will further support its growth, following the integration of three regional businesses earlier in 2014.
This deal will give CYC Logistics’ customers access to CitySprint’s network, which the company claims covers 87% of the UK mainland population in under an hour. CYC’s customers will also be able to use CitySprint’s technology, allowing them to track their parcels in real-time.
Patrick Gallagher, Chief Executive of CitySprint said, “Today’s acquisition, the second biggest in our history, is a major and exciting milestone for the business. Not only are we adding further scale and reach to our national business, but we are building on our existing local knowledge base with some excellent people. I am very much looking forward to welcoming CYC staff, couriers and customers to the CitySprint family.”
The world's largest collection of global supply chain intelligence