10th May 2016 06:45
LONDON (Alliance News) - Mail, parcels and logistics operator DX Group PLC on Tuesday said it has signed a deal to acquire The Legal Post (Scotland) Ltd and First Post Ltd from First Scottish Group Ltd for GBP3.3 million in cash.
Legal Post provides document exchange and postal services in Scotland, while First Post operates a mail service in Scotland competing with Royal Mail PLC.
The pair delivered an operating profit of GBP600,000 for the year to the end of May 2015 on sales of GBP5.2 million.
DX will combine the companies with its existing Scottish operations to boost the services it provides.
"The enlarged operation in Scotland will enable significant efficiencies which will enhance the economic life of a bespoke mail service that is highly valued by its professional services members due to reliable early delivery and late collection times, whilst also offering a cost effective solution," said DX Chief Executive Peter Cvetkovic.
By Sam Unsted; [email protected]; @SamUAtAlliance
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