Deutsche Post World Net (DPWN) announced today that it will take a majority stake in WilliamsLea, a British document and mail services firm with annual revenues of £438 million (€650 million).
The acquisition price was not disclosed but German media put the expected price for a 75 per centstake at about €370 million. The acquisition, which is subject to regulatory approval, makes DPWNinto one of the world’s largest full-service mail logistics companies.Founded in 1820, Williams Lea is a leading provider of value-added document and mail-relatedservices, offering a wide range of products in the areas of print management, mailroom management,document management as well as direct marketing. It is the number one service provider in theUK and Europe, and has a strong US presence, DPWN noted. Its customers include financial, legal andprofessional services companies, retailers and firms in the automotive and pharmaceuticalindustries. It has 6,500 employees. DPWN said that the company’s management would remain in placeand retain their equity holdings in the future.
“Williams Lea creates a superb platform for taking advantage of the ever-increasingliberalisation of international mail markets. And with one eye on the termination of the Germanexclusive license, the acquisition ensures the continued profitability of the mail business,” saidDr. Hans-Dieter Petram, Member of the Deutsche Post World Net Board responsible for national andinternational mail. Tim Griffiths, Williams Lea’s Chief Executive, commented: “We are delightedwith the outcome of our recent negotiations and Deutsche Post World Net’s decision to become ournew principal investor. Their business is wholly complementary to ours and we are eager to draw ontheir extensive business experience as a major global organisation. We see considerablepotential to leverage Deutsche Post World Net’s world class mail and logistics capability in orderto add more value to Williams Lea’s proposition for new and existing clients.”
DPWN said it would become the leading full-range provider in international mail logistics withhigh quality mail solutions along the entire value chain: from direct-marketing consulting andprinting, to sorting and franking, all the way to international transport and delivery. In 2004,DPWN had worldwide mail revenues of €12.75 billion, the bulk generated in Germany. Internationalmail revenues grew 11 per cent to €1.7 billion, mostly due to acquisitions. DHL Global Mail offerscross-border mail services and is present in liberalised domestic mail markets such as the USA, theNetherlands, Great Britain, France and Spain.
