GLS Acquires Second Parcel Delivery Firm in US
European parcel delivery firm General Logistics Systems is further expanding its presence in North America with the purchase of Postal Express Inc. in Bellevue, Wash., for $13.3 million.
The acquisition follows the purchase of Golden State Overnight Delivery Service in October 2016 in what was Amsterdam-based GLS’ first foray into the regional parcel delivery market in the United States.
Postal Express operates in Washington, Oregon and Idaho, providing same-day and overnight package deliveries, along with mailroom management, warehousing and shredding services with a network of 15 facilities and about 400 employees. The company generated revenue of approximately $42 million and delivered around 8.7 million parcels in 2016.
“The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion,” Rico Black, CEO of GLS Group, said in a statement April 6.
Postal Express will continue to be managed as a separate entity, much like in Europe where GLS works mainly through local partner companies to provide parcel delivery and logistics services in 42 countries.
Golden State Overnight, based in Pleasanton, Calif., ranks No. 9 on Transport Topics’ list of the largest for-hire carriers in the package/courier sector with revenue of $108 million in 2015. The company operates in California, Nevada, Arizona and New Mexico.
