Austrian Post buys remaining stake in Romanian mail firm
Austrian Post has taken full control of Romania’s second largest postal operator, Postmaster, just a year after buying a 26% stake in the company. The Post is currently focussing its international expansion plans in central and eastern Europe (CEE), where it has been pursuing growth opportunities in areas like direct mail services as more European countries open their postal markets to full competition.
Today Austrian Post revealed it has acquired the remaining 74% shareholding in Bucharest-based Postmaster S.R.L., having bought its initial 26% stake in October 2011.
Founded in 2007, Postmaster’s core business has been direct mail delivery for items weighing more than 50g, thereby outside the area of the market reserved for Romanian Post until 1st January 2013.
Austrian Post described the company as the leading alternative postal provider in Romania, “one of the largest CEE markets”. Last year the company had a revenue of about EUR 10m, with a workforce numbering close to 1,700 delivering 300m unaddressed direct mail items and about 20m addressed direct mail items.
Austrian Post said the purchase price was being kept confidential.
“The company already has a very good starting position for the upcoming postal market liberalisation in Romania as of the year 2013, and a solid basis for future growth,” said Austrian Post as it confirmed the acquisition.
“As the top alternative postal company, Postmaster also delivers unaddressed direct mail items throughout Romania,” said Austrian Post.
Andreas Dragosits, senior vice president CEE mail at Austrian Post, explained his company’s ongoing central and eastern Europe growth strategy in a recent interview with Mail & Express Review, Post&Parcel’s sister title.
Austrian Post’s business unit CEE Mail started its expansion path in 2005 with the acquisition of feibra Kft. in Hungary.
CEE Mail is now active through subsidiaries in the letter mail business in Hungary, Slovakia, Croatia, Romania, Poland and Bulgaria.