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POST OFFICE BUYS FRANCE’S EXTAND FOR £71M

News, 10 May 2000


The UK Post Office continued its acquisition of overseas distribution networks with the £71 million purchase of Extand, France's third largest express parcel carrier based in Toulouse, France, with operations in Spain, Belgium and Germany.

The deal, in pursuit of the PO’s aim to grow into a global company, adds to the £600 million already spent over the past sixteen months: the shopping list has included ten delivery and logistics interests.

The Post Office has been exploiting the greater commercial freedom conferred on it by Britain’s incumbent Labour administration, making smaller acquisitions without permission from the Treasury, though the Extand deal required prior approval.

Sourced from: The Times (UK)