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Royal Mail has purchased parcel delivery company Dicom Canada for C$360 million, through its General Logistics Systems (GLS) brand.

GLS, which was created in 2013 after Royal Mail went private, has made various investments in North American and European markets, and accounted for a third of Royal Mail’s operating profit in 2017-8.

Its network, with 660 delivery depots, served 212,000 customers last year, operating in eight US and 37 European states. Dicom Canada will add an additional 28 depots for ground-based parcel, freight and logistics services.

“This acquisition is in line with GLS’ strategy to grow through targeted and focused acquisitions to capture higher growth segments outside Europe,” said Rico Bank, the company’s new chief executive.

In the UK, where it once had a monopoly, Royal Mail has struggled due to a fall in letter volumes. It was also fined a record £50 million this year for breaching competition law.

Source: Reuters

Header image: Nabil Aiman

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