Swiss Post plans acquisition of Quickmail and Quickpac
Swiss Post plans to acquire the Swiss logistics companies Quickmail and Quickpac. The two companies can no longer survive independently, due in particular to continuously declining letter volumes and intense competition in the parcel market. They have been searching actively for purchasers. The acquisition will enable Swiss Post to ensure continued services for customers, to leverage existing synergies and to make better use of its own logistics capacities. The acquisition is planned to take place as promptly as possible, but it must first be approved by the Competition Commission (COMCO).
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Swiss Post wants to leverage synergies and ensure continued services
Letter volumes are constantly declining due to digitization. In addition, the parcel market in Switzerland is fierce, and costs are high in comparison with other European countries. For these reasons, Quickmail Holding AG, including its core companies Quickmail AG (letter business) and Quickpac AG (parcel business), has generated sustained losses. As continued operation of the holding company is no longer financially viable, the current shareholders have decided that they will stop their investment and withdraw from the business. They have been searching actively for purchasers.
Swiss Post wants to leverage synergies and ensure continued services
Subject to COMCO’s approval, Swiss Post plans to acquire Quickmail Holding AG in full, and has signed an agreement to this effect. “A large proportion of Quickmail and Quickpac’s customers are also customers of Swiss Post. By rescuing the two companies Quickmail and Quickpac, we can guarantee stability for these customers and ensure that services continue,” explains Johannes Cramer, Head of Logistics Services at Swiss Post. The acquisition will also enable Swiss Post to leverage synergies and make better use of its own logistics capacities. However, Cramer sees a further opportunity: “Quickpac delivers parcels exclusively with electric delivery vehicles. This is an ideal fit for Swiss Post’s ambitious sustainability strategy.”
An independent future for Quickmail Group not viable
Marc Erni, Chair of the Board of Directors at Quickmail Holding AG, says: “Letter volumes are declining, and competition on the Swiss parcel market is intense. At the same time, operating costs are very high. Under these conditions, an independent future for our holding company is no longer viable.” He also adds: “Thanks to Swiss Post’s acquisition, we can continue providing our usual services for all customers. The sale to Swiss Post means that we will gain a strong partner who will be able to keep the business running or integrate it into larger structures.”
The acquisition is currently being reviewed by COMCO. Subject to the pending COMCO decision, Swiss Post is examining the extent to which the companies can continue operating or be integrated within Swiss Post, as well as the form this could take. The parties involved have agreed to maintain confidentiality over the details of the purchase.