GLS acquires Postal Express
The GLS Group bought regional US overnight parcel delivery company Postal Express Inc.
Postal Express operates in Washington, Oregon and Idaho. The company offers overnight parcel delivery, mainly to business-to-business customers, across a number of industries.
Founded in 1985, Postal Express today operates a network of 15 hub facilities, with around 400 employees. In 2016, Postal Express generated revenue of approximately 42 million dollars and delivered around 8.7 million parcels.
Targeted geographic expansion
GLS acquired 100 per cent of the shares, paying a total consideration of about 12.5 million euros. The company will be consolidated within GLS for reporting purposes but managed as a separate entity. This targeted geographic expansion follows the acquisition of California based Golden State Overnight Delivery Service Inc. (GSO), in October 2016.