Deutsche Post completes Exel takeover

Deutsche Post completes Exel takeover

   Deutsche Post, Europe’s largest postal service and owner of DHL, today completed the acquisition of U.K. logistics company Exel, for 5.6 billion euros ($6.7 billion).

   Deutsche Post, based in Bonn, Germany, has 380,000 employees worldwide. Exel has 111,000 employees working in 135 countries. With the purchase of Exel, Deutsche Post will control about 10 percent of global logistics business. The enlarged logistics unit will operate under the DHL brand with two logistics brand areas: DHL Exel Supply Chain and DHL Global Forwarding.

   “By bringing together these two powerful, high-quality organizations, we are creating the largest logistics company in the world. Our group will set the future pace in the forwarding and supply chain industries, enabling us to serve even better the global needs of our customers,” said Klaus Zumwinkel, Deutsche Post’s chief executive officer.