GeoPost acquires SEUR-Santander franchise in Spain
GeoPost has strengthened its presence in Spain with the acquisition of the SEUR-Santander franchise (Province of Cantabria).
This deal was made possible through the joint-venture SEUR GeoPost (60% held by GeoPost SA and 40% by SEUR SA), which has a twelve-month turnover in excess of €230 million.
With the acquisition of the Santander franchise, GeoPost raises its stake in its partner’s capital to 19.6%.
Located in the Cantabria region of Northern Spain, the Santander franchise has an annual turnover of almost €7 million.
Following the acquisition of a series of franchises since 2004, SEUR GeoPost now manages eight franchises in Spain: Madrid, Bilbao, Zaragoza, Soria, Gerona, Baix de Llobregat, Granollers and Santander.
The GeoPost group now ranks first in France and third in Europe, with an annual turnover estimated at €3 billion in 2006.
