TNT Post, which is part of Dutch post office PostNL, is to roll out an end to end postal delivery service in the UK, following a deal between its parent company and private equity house LDC.
The joint venture will provide the funding and expertise for the phased implementation of the E2E-service, following trials in London and recent extension to Manchester.
The joint venture will encompass all the current TNT Post UK operations, which includes the downstream access activities. The roll-out of the service will be led by TNT Post’s current UK management team
PostNL will have a 40 per cent stake in the joint venture. Funding will come from LDC and RBS.
Marcel Krom, PostNL executive committee member responsible for the international activities commented: “With this joint venture PostNL is able to maintain its strategy to be number two in the European markets in which it operates.
“PostNL is confident that the new combination will contribute to the positive development of a fast changing mail market.”
The transaction is subject to a number of conditions, including approval by the European Commission and is expected to close early 2014.
Yann Souillard, managing director at LDC said: “The business’ E2E strategy is an innovative and dynamic approach to postal delivery which should provide an exceptional platform for both customer requirements and the business growth plans.”