Swiss Post buys Thiel Logistik subsidiary
Thiel Logistik has a sold major subsidiary to the Swiss national mail operator, Swiss Post. The company, BTL Logistics (also known as Brechtbuhl), has a considerable presence in the Swiss logistics market with over 650 employees and a turnover of over CHF 100m (€m). It provides comprehensive logistics and supply chain services throughout the country.
The disposal is part of Thiel’s divestment strategy which will see it focus on a number of core markets and sector based solutions. It will also raise much needed revenue which will help the company balance its accounts. Despite the disposal, Thiel’s management believes that it has sufficient presence in the Swiss market through another subsidiary, Delacher. Thiel originally bought the company in 2000 at the height of its acquisition programme prior to problems which have forced a change in management and strategy.
The move is also of considerable consequence for Swiss Post, although it is not the first acquisition which it has made in the Swiss logistics market. In 1997 it bought Setz Gütertransport, a full service logistics provider focused on consumer electronics, high tech, pharmaceuticals and healthcare sectors.
