Royal Mail’s General Logistics Systems (GLS) business has acquired the US overnight parcel delivery company, Postal Express.
Postal Express is a regional overnight carrier operating in the states of Washington, Oregon, and Idaho. Postal Express offers overnight parcel delivery, mainly to business-to-business customers, across a number of industries. This acquisition follows the purchase of Golden State Overnight Delivery Service Inc. (GSO), the regional carrier acquired by GLS in October 2016.
Royal Mail paid about $13.3 million (£10.6 million) for Postal Express, who generated revenue of approximately $42 million and delivered around 8.7 million parcels in the year ended 31 December 2016. Postal Express will be consolidated within GLS for reporting purposes but managed as a separate entity.
“The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion.”
– Rico Back, Chief Executive Officer, GLS Group
