GLS acquires parcel service GSO
The GLS Group has become new owner of the regional next day parcel service Golden State Overnight Delivery Service Inc. (GSO), based in California.
With around 13.5 million deliveries per year, GSO is a leading provider of regional next day delivery services in California. The company also operates in Arizona, Nevada and New Mexico. Focusing on next day delivery services, GSO also offers freight services, both primarily in the B2B segment.
Expanding in an attractive market
In the previous business year GSO generated revenue of approximately 114 million dollars. GLS acquired 100 per cent of the shares in GSO, paying a total consideration of about 80 million euros. With this targeted geographic expansion, GLS is now active in an attractive regional market, representing the world’s fifth largest economy.
GSO will be fully consolidated within GLS, but will be managed as a separate entity. The company was established in 1995, operates 36 facilities and employs a workforce of around 1,900.