Royal Mail PLC GLS ACQUIRES REDYSER (6253D)

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RNS Number : 6253D

Royal Mail PLC

01 February 2018

Royal Mail plc

1 February 2018

GLS ACQUIRES SPANISH EXPRESS PARCELS DELIVERY COMPANY, REDYSER TRANSPORTE

Royal Mail plc (RMG.L) today announces that General Logistics Systems (GLS) has acquired the Spanish express parcels delivery company, Redyser Transporte (Redyser).

Redyser will further enhance GLS Spain's domestic offering and strengthen our position as Spain's second biggest express parcels network following our acquisition of ASM Transporte Urgente in June 2016.

Headquartered in Murcia, Spain, Redyser predominantly serves the express parcels segment delivering around 14 million parcels annually. It operates through a network of over 200 agencies and franchises and 12 own operated sites in Spain's main cities.

The total consideration paid for 100% of the shares in Redyser is EUR16.5 million (approximately GBP14.5 million(1) ). Redyser generated revenue of approximately EUR45 million in the year ended 31 December 2017. Redyser will be consolidated within our existing Spanish operations.

Rico Back, Chief Executive Officer, GLS Group, said: "Following the successful acquisition and integration of ASM, Redyser supports our strategy to scale up and grow existing businesses in our core markets. Redyser will help GLS provide a broader offering and expand our presence. Redyser customers will benefit from a strong European network."

Ends

Royal Mail plc

Investor Relations

Catherine Nash

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Media Relations

Peter Tilley

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Company Secretary

Kulbinder Dosanjh

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GLS

Anne Putz

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LEI 213800TCZZU84G872M70

Note:

(1) GBP:EUR rate of 1:1.14

About GLS Group

GLS, General Logistics Systems B.V. (headquartered in Amsterdam), provides reliable, high-quality deferred parcel services for over 270,000 customers, complemented by logistics and express services. Through wholly owned and partner companies, the Group provides a network coverage of 41 European and seven U.S. states and is globally connected via contractual agreements. Over 70 central and regional transhipment points and more than 1,000 depots are at GLS' disposal. With its ground-based network, GLS is one of the leading parcel service providers in Europe. In the financial year 2016-17 GLS achieved revenue of EUR2.5 billion.

About Royal Mail

Royal Mail plc is the parent company of Royal Mail Group Limited, the leading provider of postal and delivery services in the UK and the UK's designated universal postal service provider. UK Parcels, International & Letters (UKPIL) comprises the company's UK and international parcels and letters delivery businesses operating under the "Royal Mail" and "Parcelforce Worldwide" brands. Through the Royal Mail Core Network, the company delivers a one-price-goes-anywhere service on a range of parcels and letters products. Royal Mail has the capability to deliver to more than 30 million addresses in the UK, six days a week (excluding UK public holidays). Parcelforce Worldwide operates a separate UK network which collects and delivers express parcels. Royal Mail also owns General Logistics Systems (GLS) which operates one of the largest ground-based, deferred parcel delivery networks in Europe.

About Redyser

Founded in 1991, Redyser is a national express parcels delivery company based in Murcia, Spain. Redyser operates mainly in the business-to-business segment with a network of 12 own operated sites and in excess of 200 agencies and franchises. The business employs around 250 people directly.

This information is provided by RNS

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February 01, 2018 05:12 ET (10:12 GMT)