TNT Express has completed the sale of TNT Fashion Group, its specialist fashion business in the Netherlands, to a consortium of Belspeed and Netlog Group.
The UK operations of TNT Fashion are being integrated with TNT Express UK and Ireland.
TNT announced in March its intention to sell TNT Fashion as part of its strategy to focus on core express delivery services.
TNT Fashion employs about 660 people and has annual revenues of approximately €120 million. Headquartered in Oldenzaal, the Netherlands, TNT Fashion offers specialist supply chain services for the fashion and lifestyle industry.
The group said the transaction, would contribute a limited book gain