Tag: Höfinger Haushaltswerbung GmbH

TPG NV, through its subsidiary TPG Post Holdings (Deutschland) GmbH in Germany, has acquired the remaining 50% stake in Höfinger Haushaltswerbung GmbH. Höfinger provides services for unaddressed mail in the federal state of Baden-Württemberg in southern Germany. TPG had previously obtained a 50% stake in Höfinger at the end of 2001. In 2003 Höfinger Haushaltswerbung had annual revenues of EUR7.3 million and delivered 215 million leaflets. Acquisition of the company gives TPG Post complete access to a network of 2,500 deliverers that reach approximately one million households in the Stuttgart area. “The takeover of Höfinger allows TPG Post to build further on its coverage and finely-meshed network in the German market for unaddressed mail,” said Harry Koorstra, Group Managing Director of TPG Post. “Expansion of our network is a cornerstone of TPG Post’s strategy to become the second largest postal company in Germany and Europe’s first truly pan-European postal company.”