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$103m: Royal Mail in second push on US market
Royal Mail (RMG) has spent just over $103m in the past seven months on two US acquisitions as it tries to reduce reliance on Europe.
Having bought Golden State Overnight for $90m in October, Royal Mail is now paying $13.3m for Pacific Northwest-focused Postal Express.
The two US acquisitions both focus on overnight express business-to-business deliveries. They will sit inside Royal Mail’s GLS division.
GLS saw 9% revenue growth in the nine months to 25 December 2016 compared with 2% decline in revenue from UKPIL, the UK and overseas parcels and letters delivery operation.