TPG completes buy out of Jepsen unaddressed mail network in Germany
Mail, express and logistics company, TPG N.V., through its subsidiary TPG Post Holdings (Deutschland) GmbH in Germany, has today purchased the remaining 49% of shares in Olaf Jepsen GmbH (Jepsen). TPG Post had already acquired 51% of the shares in 1998.
Jepsen, which generated revenues of around €29 million in 2002, is a key part of the total TPG Post unaddressed mail network in Germany. The company delivers 956 million items such as leaflets and newspapers each year.
Harry Koorstra, Group Managing Director of Mail at TPG, says: “By completing this buy out of Jepsen, TPG Post can further integrate its unaddressed mail networks to build stronger coverage and density within networks in Germany. This further enhances our position as the second largest mail company in Germany and our aim to be the first pan-European mail company.”
Achieving the full ownership of Jepsen is another positive step for TPG Post’s
expanding unaddressed network in Germany. Earlier this year, TPG Post acquired unaddressed mail distributors blitzpunkt in eastern Germany and Werbeagentur Fischer in South-East Germany. TPG Post now has strong unaddressed activities in the north-west, south-east and eastern parts of Germany, as well as Berlin and Baden-Würtemberg.
The TPG Post unaddressed mail network in Germany covers some 16.5 million households with around 28,500 round-based deliverers. Besides unaddressed mail activities, the unaddressed network also delivers over 21 million addressed magazines.
TPG Post also has addressed mail activities in Germany via EP Europost, a joint venture between TPG Post and Hermes Versand Service, a subsidiary of mail-order company the Otto Group. Furthermore, TPG Post has addressed city mail networks in the western part of Germany. In addition, its subsidiary Cendris is active in the areas of data and document management.
