bpost boosts Asian mail operations with acquisition
Belgium’s bpost has acquired a mail and parcel business based in Hong Kong, to strengthen its interational operations in Asia. Previously part of UK-based business-to-business mail firm Citipost Group, Citipost Asia had sales of HK $50m last year ($6.5m USD), and as well as its home base in the Chinese special administrative region, it also has a subsidiary based in Singapore.
bpost said the acquisition would help its activities for both letters and parcels develop in the Asia region, although the move was particularly driven by the growth seen in the field of e-commerce.
Under its new ownership, Citipost will operate under the name bpost Asia, but will continue to be led by current director Raymond Lau.
bpost’s international business unit, bpost international, said it would guarantee the continuation and expansion of services for existing customers.
Peter Somers, chief executive of bpost, said: “This acquisition allows us to our future growth in foreign growth markets strengthen. bpost international in recent years a lot of experience and know-how. With this agreement we are now expanding our activities in the Asian market further.”
bpost international has doubled its turnover over the past five years through its operations in Europe, America and Asia.
The company became a majority shareholder in US mail and parcel distributor MSI Worldwide Mail at the tail end of 2009, giving it operations in Washington, Chicago and Toronto.
