Deutsche Post DHL Group (DP DHL) has sold its UK-based marketing and communications subsidiary, Williams Lea Tag, to private investor Advent International in a deal that could be worth several hundred million euros.
The two parties did not disclose the sale price for the British company, which had revenues of €1.4 billion in 2014, the last year that separate figures for the business were made public.
Earlier this year, however, German newspaper Frankfurter Allgemeine Zeitung reported that DP DHL had put the British subsidiary up for sale and was seeking a price of several hundred million euros.
Deutsche Post DHL Group announced today that the UK-headquartered provider of marketing and communications supply chain services would be sold to Advent International, enabling the German group “to strengthen its focus on its core logistics service offering”. However, Williams Lea Tag will retain a close business relationship with the DP DHL Group.
Andy Dawson, Managing Director at Advent International, said: "We see great future growth potential in Williams Lea Tag on a global scale. Advent will support the company through targeted investment in people, technology and systems and strengthen its customer proposition and help its clients to realise the true potential of their brands. Advent’s expertise in executing complex carve-outs combined with our deep sector experience will ensure William Lea Tag’s transition to an independent company is smooth and will put it on a solid foundation from which it can grow and prosper.”
The operations and assets of Williams Lea Tag are expected to transfer to Advent by the fourth quarter of 2017. The business currently employs over 10,000 people and operates in more than 40 countries globally.
Deutsche Post DHL acquired UK-based Williams Lea in 2006. The company was later re-branded to Williams Lea Tag following the acquisition of marketing agency Tag in 2011.
