PostNL reaches agreement on management buyout of Whistl
PostNL earlier this year announced a review of its international operations and the review of its UK operation, Whistl, concluded that the management team should take a controlling stake in the company with PostNL retaining a 17.5% shareholding. PostNL and Whistl are working hard to get the final detail of the deal concluded as quickly as possible.
Following this transaction Whistl will be able to develop its current portfolio of activities and build its leading position in the UK postal market.
Currently Whistl’s core DSA business has over 56% market share in the UK handling around 3.75 bn items of mail, alongside an established Door Drop Media division. In addition there are growing Packets and Parcels and Logistics divisions.
Nick Wells CEO Whistl said:
“Through a management led company, Whistl will continue to build upon its entrepreneurial heritage. We will continue to challenge, innovate and provide great service to customers, whilst retaining the support of PostNL.”
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