Deutsche Post to acquire a 49 percent stake in Guipuzcoana in Spain and Portugal: A further move in the completion of the European network
Deutsche Post to acquire a 49 percent stake in Guipuzcoana in Spain and Portugal: A further move in the completion of the European network
8th July 1999
Deutsche Post has agreed to acquire a 49 percent stake in the Spanish parcel carrier, Guipuzcoana. It has an option over another two percent of the company shares exercisable after three years.
Guipuzcoana is the market leader in Spain in the day-certain delivery of parcels in the business-to-business sector, and in addition possesses a comprehensive network in neighbouring Portugal. With this new acquisition Deutsche Post is able to offer complete coverage of the Iberian peninsula, and to offer its customers a first class service to this important region of Europe. The existing owners of Guipuzcoana will be remaining in the business as managers of the company.
Guipuzcoana was established in 1947 and offers a full range of business-to-business transport services ranging from small parcels to palletised freight.
The Guipuzcoana group employs around 1 700 persons and operates some 1 600 vehicles through some 63 locations in Spain and Portugal. Company-wide revenues in 1998 amounted to around Ptas 31 000 million (Euro 186 million).
As the Iberian partner of Deutsche Post’s European quality network, Guipuzcoana will be responsible for delivering all network parcels generated to this location, and all export parcels generated by Guipuzcoana will be delivered within the Deutsche Post network in the future.
This new partnership will not, however, affect Deutsche Post’s existing cooperation with the national postal administrations in either Spain or Portugal.
Dr Klaus Zumwinkel, Chairman of the Board of Management of Deutsche Post, commented: “With this new partnership in Spain and Portugal, two strong service providers will be joining forces in an attractive international market. Both partners will now be able to offer their customers even better logistics solutions from one source across the whole of Europe.”
