Takeover brings a buzz – UK sameday courier CitySprint buys Hornets
UK sameday courier company CitySprint has bought Hornets, an independent despatch business offering UK and international services.
The purchase is expected to increase CitySprint’s annual turnover by around 12% to more than £30m ( t45m).
Hornet’s vans, motorbikes and bicycles will be added to CitySprint’s fleet of 1,200 vehicles, although Hornets will operate as a division of CitySprint.
Andrew Bernard, CEO of CitySprint, said the company was still on the lookout for other companies to help its expansion.
“This acquisition will enable us to build on our customer base and and fleet capacity in the Greater London area.
“We will continue to look for culturally complementary acquisitions and partnerships that fit with our strategy of growing market share.”
Posted: 10/02/2003
