Royal Mail has announced that its subsidiary, General Logistics Systems (GLS), has acquired US overnight parcel delivery company Postal Express for approximately $13.3m.
Postal express works across Washington, Oregon and Idaho, mainly offering B2B services. It delivered around 8.7m parcels in 2016, generating revenues of approximately $42m. Postal Express will be consolidated within GLS for reporting purposes but will be managed as a separate entity.
GLS previously purchased Golden State Overnight Delivery service in October 2016 and Rico Back, CEO of GLS group said: “The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion.”
Source: Royal Mail Group