Heppner buys French parcel network
French independent transport and logistics group Heppner is to buy the domestic deferred parcel delivery network, XP France, from investment group Caravelle.
The deal is expected to go through by the end of the monthsubject to regulatory approval.
Caravelle, which specialises in company rescues, acquired the firm from TNT in June 2001, after it made a Eur10m loss.
Heppner said Caravelle had been successful in turning the company around and believed the time was now right for it to join a bigger group.
Three years on, XP France has a turnover of Eur139m, employs 1,180 staff and has a network of 33 depots.
