DHL Romania offers highest growth opportunities after Cargus integration
After more than two years of talks over the acquisition of Cargus, DHL Romania will begin to make joint decisions on behalf of both companies.
According to estimates, DHL and Cargus will operate an over 80 million-euro business together, double the business volume of the players behind them (Fan Courier and TNT), based on the budgets announced by the companies at the beginning of the year.
On the other hand, Cargus had a gentlemen’s agreement with the owners, negotiating the sale exclusively with DHL. Cargus, one of the leading domestic courier companies was worth 50 million euros at the time of the deal, according to sources on the market, a value its officials did not confirm. The sale-purchase contract included a number of conditions such as dropping Cargus’ partnership with GeoPost and keeping the Cargus brand. As Sharp explained, working out the final details was actually the most difficult moment of the negotiations.
The two companies are now awaiting the approval of the Competition Council and have already set their first joint budget – an increase of 30 pct in 2009. In addition, management consultant Baron & Associates has been hired to help integrate Cargus.
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