Swiss Post plans to acquire the Swiss logistics companies Quickmail and Quickpac.
According to Swiss Post, the two companies have been searching actively for purchasers because they can no longer survive independently, due to continuously declining letter volumes and intense competition in the parcel market. The acquisition will enable Swiss Post to ensure continued services for customers, to leverage existing synergies and to make better use of its own logistics capacities. The acquisition is planned to take place as soon as possible, but must first be approved by the Competition Commission (COMCO).
Letter volumes are constantly declining due to digitization and the parcel market in Switzerland is fierce – costs are high in comparison with other European countries. For these reasons, Quickmail Holding, including its core companies Quickmail (letter business) and Quickpac (parcel business), has generated sustained losses. As the continued operation of the holding company is no longer financially viable, the current shareholders have decided that they will stop their investment and withdraw from the business. They have been searching actively for purchasers.
Subject to COMCO’s approval, Swiss Post plans to acquire Quickmail Holding in full, and has signed an agreement to this effect. Swiss Post is now examining the extent to which the companies can continue operating or be integrated within Swiss Post, as well as the form this could take. The parties involved have agreed to maintain confidentiality over the details of the purchase.
Johannes Cramer, head of logistics services at Swiss Post, said, “A large proportion of Quickmail and Quickpac’s customers are also customers of Swiss Post. By rescuing the two companies Quickmail and Quickpac, we can guarantee stability for these customers and ensure that services continue. The acquisition will also enable Swiss Post to leverage synergies and make better use of its own logistics capacities. Quickpac delivers parcels exclusively with electric delivery vehicles. This is an ideal fit for Swiss Post’s ambitious sustainability strategy.”
Marc Erni, chair of the board of directors at Quickmail Holding, said, “Letter volumes are declining, and competition on the Swiss parcel market is intense. At the same time, operating costs are very high. Under these conditions, an independent future for our holding company is no longer viable. Thanks to Swiss Post’s acquisition, we can continue providing our usual services for all customers. The sale to Swiss Post means that we will gain a strong partner who will be able to keep the business running or integrate it into larger structures.”
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