Jersey Post has announced its intention to acquire European logistics provider Fraser Freight, based in Portsmouth.
The purchase of Fraser Freight is part of Jersey Post’s strategy to expand its current business operations, in particular its routes into Europe, and fill the deficit left by the decline of letter volumes. Jersey Post intends to retain all existing staff based at Fraser Freight and there will be no compulsory redundancies either at Fraser Freight or at Jersey Post as a result.
Tim Brown, chief executive at Jersey Post, said,
“2016 is one of the most financially challenging years yet for Jersey Post, and we must find secure, profitable opportunities that can help us to build on our existing core skills and business strengths in order to address this situation. Although, the acquisition of Fraser Freight is currently subject to regulatory approval, we are very excited by what this deal will mean to our business and the potential to enhance our existing services.”
Ross Fraser, managing director at Fraser Freight, said,
“We have been actively seeking a buyer for the business and are pleased to be progressing with Jersey Post. There are strong synergies between our mutual desires for business growth, and I am excited by what this deal means to both Fraser Freight and Jersey Post. While the acquisition is currently subject to regulatory approval, it is very much business as usual for Fraser Freight, providing high quality logistics services to our valued clients.”