German-based TPG Post Holdings acquired German unaddressed-mail distribution company Werbeagentur Fischer GmbH for an undisclosed sum, TPG Post's parent company TPG NV said Friday.
Werbeagentur, based in Bavaria, has a route-based delivery network covering 300,000 households in southeastern Germany. Werbeagentur has sales of 4.7 million euros in 2002, TPG said.
TPG Post already has unaddressed-mail networks in northwest Germany, Berlin and Baden-Wuertenberg. TPG said the acquisition gives TPG Post direct access to southeast Germany and establishes a steppingstone for further regional expansion.
