Apr 6, 2017
Royal Mail expands in US parcels market
Royal Mail is making a push into the US parcels market with its second acquisition in six months, as it tries to offset the effect of falling letter volumes and more competition in Europe. The US parcels market is dominated by UPS and FedEx, which have parcel revenues twice the level of their nearest competitor, Deutsche Post DHL, according to Apex Insight consultancy. The North American parcels market made up around a third of the global sector in 2015. The US businesses are being rolled into Royal Mail's European-based logistics arm, GLS, which has driven revenue growth in recent quarters as the UK postal division has struggled. Royal Mail has made a series of other minor acquisitions over the past two years in an attempt to diversify its business into new areas it hopes will drive future revenue growth.
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