DPD has acquired the Hungarian parcels operator GTR Logistics Kft to strengthen its position onthe country’s CEP market and further increase its parcel volumes and market share.
GTR, founded 15 years ago, has undergone a successful restructuring in the last few years underthe ownership of Hungarian investment company Central Fund Kockázati Tökealap-kezelö Zrt. Itsrevenues and volumes were not disclosed.
“This major inbound investment shows that the group has recognised the potential of theHungarian market and believes in the future development of the business in Hungary. DPD will changethe rules in the Hungarian market through international growth, innovative services and new productdevelopments,” Marek Rozycki, CEO Central and South-Eastern Europe at GeoPost, said.
DPD operates a network of 18 depots across Hungary and will extend this with a central warehouseand 9 rural ones. Following the transaction, a team of over 500 employees and subcontractors andmore than 300 vehicles from both companies will work together to ensure fast and efficient service.DPD will take over the management with the re-branding to be completed later including the changeof name, image and standardisation of appearance.
Csilla Hosszú, Managing Director of DPD Hungária Kft, commented: “We consider the acquisition ofGTR as an excellent investment, through which we can further strengthen our position in theHungarian CEP market and take advantage of the synergies arising from joint operations. Wedelivered 2.7 million parcels in 2011, and this number is going to increase, due to thetransaction. The considerably bigger fleet and the extensive national network will bring furtherimprovement in the quality of our services and market share.”
“We are glad to be part of this rare transaction,” Zoltán Varga, Chairman of the Board ofCentral Fund Zrt, said. “In this unfavourable macroeconomic environment when very few acquisitionsare carried out, we think it is a great success that a prestigious multinational company showsinterest in a Hungarian firm. This is largely due to that successful reorganisation, during whichwe stabilised and consolidated the financial status of GTR in only a few years, so its results in2011 made it an attractive investment target.”
