Belgian Post has announced the takeover of the two domestic express and parcels operators Corpcoand MG Road Express to extend its service range and increase growth opportunities in this segment.
For La Poste and its express subsidiary Euro-Sprinters, these acquisitions represent a newimportant stage in the rapid development of its merged division “Parcel and Express”. During2008, the activities of La Poste’s parcel subsidiary Kilopost and its express unit Taxipost weremerged with the aim to offer consistent and rationalised services.
Through the takeover of Corpco and MG Road Express, Belgian Post will complete its servicerange in specialised logistics, and in the distribution of parcels and express services inparticular, offering a comprehensive solution to its customers, the company said in a statement.
Corpco is the joint commercial name of the two companies, Express Road and Courier NetworkSystem (CNS). Express Road was established in 1983 and mainly targets the parcel distributionmarket. CNS was established in 1993 and provides parcel delivery as well as express services. Thecombined turnover of the two companies amounted to €12.5 million in 2008. The businesses employ 44staff in total. La Poste is taking over 100% of the CNS and Express Road shares based on theagreement concluded with the four current shareholders.
MG Road Express, founded in 1995, counts 14 employees and focuses mainly on express services.In 2008, its turnover reached €2 million. Similarly to Corpco, La Poste is taking over 100% of thecompany’s shares.
Both Corpco and MG Road Express have built up a solid customer base in their respectivesegments with an excellent reputation, Belgian Post said. The company added that the activities ofthe two operators perfectly complement its own operations and it hopes to profit from the extensiveknow-how of their employees.
Johnny Thijs, Belgian Post CEO, commented: “Parcels represent a strategic growth market.Through the takeover of Corpco and MG Road Express, La Poste is strengthening its position on thismarket. Our company has thus proved that it doesn’t neglect any future growth opportunities. Ouraim is to offer our customers a complete range of services.”
Euro-Sprinters, acquired by Belgian Post in 2002, operates a fleet of 150 vehicles and has 30departure points in Belgium and the Netherlands.
