Lisbon, Dec. 18, 2024 (Lusa) - Portugal's post office (CTT) has reached an agreement to buy the Spanish company in the international e-commerce customs sector, CACESA, for a total of €104 million.
In a statement, CTT said that Compañia Auxiliar al Cargo Expres (CACESA) has assets valued at €91 million and that the purchase should be completed by March or April 2025.
Quoted in the statement, CTT's executive chairman, João Bento, said that this acquisition "is an important milestone in the transformation journey" that the company has been making to become a "benchmark e-commerce logistics operator in the Iberian Peninsula".
"We are very pleased to integrate this company into our portfolio, as it is a natural step to reinforce CTT's increasingly relevant role in all components of the e-commerce value chain, from shipping to returns, strengthening commercial relations with customers around the world," he added.
CTT - Correios de Portugal also stated that, from a strategic point of view, this step will accelerate the transformation of CTT's business, which is "increasingly becoming an e-commerce logistics operator".
"At a time when online retail is increasingly cross-border, integrated customs clearance solutions play a crucial role in the growth strategy of this value chain," he added.
In the note, CTT said it expected this purchase to generate operating synergies of more than €5 million.
The company also explained that revenue synergies are expected to grow with the expansion of last-mile distribution services and integration with CTT's customs processes.
"Cost synergies are expected to materialise through increased efficiency in customs processing operations and the elimination of duplicate overheads," he says.
CACESA operates an international e-commerce customs clearance platform and is a major supplier in Spain and other European markets. It focuses mainly on traditional e-commerce operators.
The company also offers additional last-mile parcel distribution services and freight transport, including air/sea freight and express.
CACESA is present in 15 countries, with Spain, Italy, Belgium and Poland being its main markets.
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