TNT Express agreed to acquire a 50 percent stake in French parcel delivery company Adrexo Colis in a bid to strengthen its position in the country's fast growing market for e-commerce and business-to-consumer deliveries.
The deal, which requires regulatory approval, will allow Netherlands-based TNT Express and Spir Communication, Adrexo's parent, to speed up the development of standard home delivery services with 48-hour and 72-hour delivery guarantees across France.
Adrexo Colis, which has 300 full time employees, delivered 22 million parcels and generated revenue of $70 million in 2009.
TNT Express news from JOC:
TNT to Sell Express Business .
TNT Express said its 450-strong French sales force will market the new Adrexo Colis delivery service across France, complementing its own express services in the country.
TNT Express has 120 hubs and depots in France serving 620 scheduled trucking services and 14 daily air connections.
TNT said the French e-commerce market for products and services was worth over $33 billion in 2009, an increase of 26 percent on 2008.The number of online stores grew 35 percent during the period to 64,100.
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