French Post Makes First U.S. Acquisition Brokers Worldwide of Philadelphia Strengthens International Position

French Post Makes First U.S. Acquisition

Brokers Worldwide of Philadelphia Strengthens International Position

PHILADELPHIA, PA October 4, 2000 – Brokers Worldwide, a full-service international distribution company headquartered in suburban Philadelphia, today announced Group La Poste’s acquisition of 40 percent of the privately held company. It is the French firm’s first U.S. acquisition.

Group La Poste, which is part of the French postal authority, is one of the world’s largest postal and logistics services firms. It serves over three million clients daily, processing more than 22 billion pieces of mail per year. The acquisition is part of La Poste’s strategy to strengthen its position in the U.S. and world markets.

Brokers Worldwide is the largest independently owned international mail distribution company in the U.S., and is a pre-qualified wholesaler with the United States Postal Service, sharing in the $7 billion per year industry.

“By aligning with La Poste, we have secured our company’s ability to compete in the future in an industry that has experienced great consolidation over the past three years. The partnership will allow us to expand our services to our clients as well as ensure the security of our employee group,” said David Muenzer, co-chairman and president of Brokers Worldwide.

Incorporated in 1986, Brokers Worldwide has since expanded its Folcroft, PA-based headquarters to include 300 employees and branch offices in Chicago, San Francisco, and Washington D.C.. Its primary business is the collection, consolidation and international distribution of letters, magazines, bank statements, books and catalogues. Its customer base includes major financial institutions, publishers, banks, universities and major corporations.

“The partnership also helps us accelerate our plans for expansion and create better opportunities for our employees,” says Michael Hastings, co-chairman and CEO, who indicates Brokers Worldwide is anticipating opening additional offices in Miami, Dallas, and Los Angeles over the next several years. “In addition to geographic expansion, the acquisition will also open opportunities to expand our value-added services, including data processing and letter shop services.”

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BROKERS WORLDWIDE is a privately held international mail distribution company and is a pre-qualified wholesaler with the United States Postal Service. The company was incorporated in 1986 and corporate headquarters are in Folcroft, PA. Co-chairmen are David Muenzer, president, from West Chester, PA, and Michael Hastings, CEO, from Collegeville, PA. Minority shareholders are Mark Feinstein of Ellicott City, MD, and Gary Shunk, of Yardley, PA. All four owners are active managers at Brokers Worldwide.