Deutsche Post Agrees to Acquire UK Mail to Expand E-Commerce Driven Small-Parcel Network
Narrow-moat Deutsche Post DHL secured an agreement to acquire U.K.-based integrated mail and parcel delivery provider UK Mail (not to be confused with competitor Royal Mail) for roughly GBP 243 million (EUR 281 million) in an all-cash deal. UK Mail posted roughly GBP 481 million (EUR 556 million) in revenue last year, implying a price/sales multiple in the ballpark of 0.5 times. We speculate this was an opportune time for DHL to pick up the operations given UK Mail grappled with a few operationa...Deutsche Post is a mail and logistics services group. In its Mail division, Co. provides domestic and international mail and parcels and is engaged in dialogue marketing, nationwide press distribution services and the electronic services related to mail delivery. Co.'s Express division provides courier and express services to business and private customers globally. Co.'s Global Forwarding, Freight division manages the carriage of goods by rail, road, air and sea, ranging from container transport to solutions for industrial projects. Co.'s Supply Chain division provides warehousing, managed transport and services at every link in the supply chain for customers in a variety of industries.
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