Austrian Post today announced it has acquired the remaining 74 per cent shareholding in theRomanian mail delivery company Postmaster as part of its expansion in Central and Eastern Europe.
In October 2011 Austrian Post already acquired a 26 per cent stake in the company, describedas the leading alternative postal services provider in Romania, and has now increased its interestin the firm to 100 per cent.
Postmaster, headquartered in Bucharest, was founded in 2007 and focuses on deliveringadvertising mail weighing more than 50g. This gives it “a very good starting position for theupcoming postal market liberalisation in Romania in 2013 and a solid basis for future growth”,Austrian Post stated.
In 2011, Postmaster generated revenue of about €10 million, employing a delivery staff ofclose to 1,700 people delivering some 300m unaddressed direct mail items and about 20m addresseddirect mail items.
Austrian Post said the acquisition is a further step towards implementing its growthstrategy, and concluded its entry in one of the largest CEE markets. The parties to the transactionhave agreed to maintain confidentiality with respect to the purchase price.
