Posten, the Swedish postal group, has taken full control of Norwegian parcels and freight firmTollpost Globe by buying the 50% holding of Danish transport group DSV for EUR 133 million. The
acquisition strengthens its position in the Nordic parcels and logistics market.Posten already bought a 50% stake in the company from DSV in 2001 when it acquired DSV’sparcel business, but Tollpost Globe remained consolidated in DSV’s accounts. DSV announced that ithad sold the remaining 50% holding for DKK 993 million (EUR 133 million).
The Norwegian company, with 935 employees, made an operating profit of NOK 77 million (EUR9.6 million) on turnover of NOK 2.1 billion (EUR 262 million) in 2006. The 2007 turnover was givenas NOK 2.4 billion. Tollpost Globe provides domestic parcel distribution through a nationwidenetwork, including a next-day express service, and international distribution through the DPDnetwork. It also offers part-load and full-load transportation of large shipments.
Posten said that the acquisition would strengthen its position in the Norwegian logisticsmarket where Tollpost Globe was a strong brand. “As sole owner of Tollpost Globe we increase ourpresence in Norway and take one further step towards realizing our Nordic strategy. We can therebytake even better advantage of the growth opportunities which the increasing international flowsmean,” said Erik Olsson, CEO of Posten AB.
Posten Logistik has so far handled parcels, pallets and express services throughout the wholeof Norway through its subsidiary and via the franchise network DPD. During 2007 it has alsoestablished a distribution network in Norway under the brand MyPack.
Explaining the sale, DSV said the growth of Tollpost Globe’s parcel business meant it was nowcloser to Posten than to DSV, and the disposal was the best way to ensure it continued to develop.But DSV stressed that it will retain access to Tollpost Globe’s national distribution network inNorway following the sale.
Completion of the transaction is subject to approval of competition authorities.
