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Acquisition: Swiss Post strengthens its position in Spain
Communication dated 03.02.2010
Swiss Post is stepping up its commitment in Spain. The Swiss Post International Group unit is acquiring two long-term sales partners based in Madrid. With a headcount of around 30 employees, both companies operate primarily in the cross-border letter business to and from Spain. This latest acquisition is yet another example of Swiss Post International's commitment to pursuing its growth strategy.
Swiss Post International is acquiring the two companies, ABC Mail and Mail Partners Spain (MPS), which are majority-owned by the Dutch ABC Mail Group, with retroactive effect from 1 January 2010. The two companies, which are headquartered in Madrid and have been sales partners of Swiss Post International since 2003, operate jointly on the Spanish market as Swiss Post International Spain. They operate primarily in the international mail business and serve Spanish business customers from all sectors. They are well established in this market and enjoy solid customer relationships. In 2009, their team of 30 employees generated sales of CHF 11.7 million. All employees and members of management will be taken on by Swiss Post International. The parties have agreed that the purchase amount will not be disclosed.
This acquisition will allow Swiss Post International to further strengthen cooperations with partner firms which have been established by the two companies to date, and to develop a nationwide sales network. Spanish SME customers will thus benefit from an extensive network for their international mailings and will have access to Swiss Post International's entire range of services. Moreover, this acquisition will enable Swiss Post International to improve its starting position ahead of full deregulation of the Spanish postal market, set to take place next year.
Well represented in Europe
With this latest acquisition in Spain, Swiss Post continues to pursue its strategy of growth in foreign markets outside the basic service, in line with the strategic objectives outlined for Swiss Post by the Federal Council. Swiss Post is now represented in northern, western, central and southern Europe. Swiss Post currently generates almost 20 percent of its sales abroad and in its cross-border business. Swiss Post International is a Group unit of Swiss Post, employing around 1,300 people in Europe, Asia and the USA. In the first three quarters of 2009, Swiss Post generated sales of CHF 751 million and profits totalling CHF39million. Swiss Post International is currently the number three national postal company in the world in the international letter business.