TNT acquires Mercurio, the express market leader in Brazil
TNT today announced the completion of its acquisition of 100% of the shares of Expresso Mercúrio S.A. (Mercúrio), the market leader in the Brazilian domestic express market. The acquisition provides TNT with an ideal platform to further develop an integrated South American road express network. Parties do not disclose further details on the price of this cash funded transaction.
Mercúrio leads the Brazilian domestic express market with a market share of 15%. In 2006, revenues of Mercúrio are expected to amount to around EUR 190 million. Mercúrio has developed the largest owned network in South and Southeast Brazil connecting 3,300 cities and has been expanding its reach into the Northeast since 2004, fulfilling its ambition of nationwide coverage. Its leadership was established by offering a high quality product portfolio with, among others, day definite services and track and trace. Mercúrio has a broad, diverse and loyal customer base in the domestic express market. The company employs over 6,000 employees and has a well developed network with 101 depots and 2,044 vehicles.
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