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Croatia's Hrvatska Posta signs deal to buy local delivery service provider Locodels

Croatia's Hrvatska Posta signs deal to buy local delivery service provider Locodels Author: Hrvatska Posta. License: All rights reserved.

ZAGREB (Croatia), October 17 (SeeNews) - Croatian state-run postal operator Hrvatska Posta [ZSE:HP] announced on Thursday it has inked a deal to buy Zagreb-based delivery service provider Locodels.

The agreed takeover will mark Hrvatska Posta's entry into the market of alternative delivery channels and is in line with its inorganic growth strategy, the buyer said in a statement. 

Initially, the new service will be used by customers in the B2B and B2C segments, Hrvatska Posta CEO Ivan Culo said, as quoted in the statement.

The  parties to the transaction expect the takeover to be completed by the end of November. The financial terms of the deal were not disclosed.

Locodels helps people and businesses send packages cheaper and faster by connecting them with drivers going in the direction of the recipient's address. 

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