German Post Office Buys More in US, ItalyBONN, Germany -- The German post office continued its steady course of acquisition and expansion prior to its planned IPO in November with new acquisitions in the United States and in Italy.
Deutsche Post Global Mail, the company's international arm, last month made its third acquisition this year in the US, buying global mailer International Postal Consultants, Hanover, MD. Terms were not disclosed.
The German post office also bought SAV S.P., an Italian express package delivery service with sales of 100 million deutsche marks (about $49 million US) last year and a work force of 372.
Deutsche Post bought two other US firms this spring: Quick Mail, New York, a corporate mail specialist with annual sales of $24 million, and the international mail division of Skymail International, Salt Lake City.
IPC has operational facilities in Los Angeles and Fairfield, NJ, and specializes in customized services to publishers, financial institutions and direct marketers.
The company has been selected by INC magazine as one of the 500 fastest-growing privately held companies in America for three years running. The acquisition allows the German post office to "offer clients flexibility and specialization," said Harry Geller, CEO of Global Mail, Sterling, VA.
Deutsche Post bought Global Mail in October 1998 and used the $100 million company to help rebrand American operations under the Deutsche Post Global Mail label and to make its own acquisitions.
The purchase of Italy's SAV S.P. gives Deutsche Post three mailing companies in that country. Deutsche Post entered that market in early 1999 with the purchase of MIT European Express, a package delivery service.