GeoPost strengthens its presence in Spain with the acquisition of SEUR-SANTANDER
GeoPost has just acquired the SEUR-Santander franchise (Province of Cantabria).
This operation was made possible through the joint-venture SEUR GeoPost (60% held by GeoPost SA and 40% by SEUR SA), which has a turnover for a full 12 months in excess of euro230 million.
Located in the Cantabria region, Northern Spain, the Santander franchise, employs around 80 people, and has a turnover of almost euro7 million per year.
“This acquisition strengthens SEUR GeoPost’s position in Northern Spain” explains Yves Delmas, CEO of SEUR GeoPost. Following the acquisition of a series of franchises since 2004, SEUR GeoPost now manages eight franchises in Spain: Madrid, Bilbao, Zaragoza, Soria, Gerona, Baix de Llobregat, Granollers and, recently, Santander. With the acquisition of the Santander franchise GeoPost raises its stake to 19.6%.in its partner’s capital, SEUR
Spain therefore asserts its position as one of key players of the GeoPost group’s development in Southern Europe.
