Business

Royal Mail buys Canadian parcel supply agency for 213 million kilos

(Reuters) – Royal Mail Plc’s worldwide arm GLS has purchased Canadian parcel supply company Dicom Canada from Chicago-based non-public fairness agency Wind Point Partners for C$360 million (213.36 million kilos), the British publish and parcels company mentioned on Monday.

Royal Mail vans are parked within the Leytonstone publish workplace depot in London, Britain early July 6, 2017. REUTERS/Russell Boyce

The deal, which takes Royal Mail into Canada, was funded by current borrowing services and might be earnings and money circulate accretive within the monetary 12 months ending March 31, 2019, the company mentioned.

Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri

Our Standards:The Thomson Reuters Trust Principles.

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