DEUTSCHE POST BUYS PARCEL CARRIERS IN EUROPE
Deutsche Post World Net, the expanding German transportation conglomerate, has acquired six international subsidiaries of German parcel mover trans-o-flex Schnell Lieferdienst.
Deutsche Post bought trans-o-flex companies in Austria, Hungary, the Netherlands, Belgium, Italy and Denmark. The acquisitions will expand Deutsche Post’s Euro Express parcel and distribution network, the company said.
Deutsche Post bought a 25 percent stake in Germany-based trans-o-flex in 1997. Following the international acquisitions, trans-o-flex will maintain its independence in Germany and continue to use its European subsidiaries to move packages under agreement with Deutsche Post.
German antitrust authorities have approved the deal.