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City Link wraps up Target Express I
7th December 2006, Page 7
7th December 2006
Page 7
Page 7, 7th December 2006
— City Link wraps up Target Express I
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Keywords :
City Link Ltd., Express Mail, Rentokil Initial, Target Corporation, Economy Of The United States, Business / Finance
PARCELS DELIVERY firm -. City Link, part of Rentokil .. . Initial, has acquired its rival Target Express for £210m, a creating a firm with 108 : depots and a turnover approaching £400m.
City Link started a franchise buy-back programme in October last year; it now owns 80% of the network and plans to buy another 13 franchises next year.
The firm expects to make savings of £10m per year through integration, which will start next summer.
Doug Flynn, CEO of Rentokil Initial. says: "Together City Link and Target Express will create a leader in the premium overnight parcels market."
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Doug Flynn