CitySprint has snapped up London delivery firm CYC Logistics as part of its ongoing expansion strategy. The deal increases the same-day courier firm’s depot network to 40 and gives it a total courier workforce of nearly 3,000. All operations and staff will transfer over from CYC on 28 November, with integration into the network planned to take place over the coming months. CitySprint CEO Patrick Gallagher said: “Today’s acquisition, the second biggest in our history, is a major and exciting […]
FedEx UK made four acquisitions totalling £13.8m in the past 10 months – but has declined the opportunity to say why.
DHL Express completed the sale of its same-day domestic business to Rico Logistics last week.
JSC Russian Railways (RZD), is in talks to buy 75% of Gefco, the logistics arm of cash-strapped car maker PSA Peugeot Citroën for €800m (£640m). PSA Peugeot Citroën said the proposed deal should speed Gefco’s growth by creating a business with enhanced reach in logistics services linking Europe and Asia. The existing management team, led by its president Luc Nadal, will not change, it added. Vitaly Belskiy, from consultancy Frost & Sullivan, said: “The deal is a clear ‘win-win’ for […]