AS Express Post, which belongs to the Ekspress Group and the Postimees Group, announced earlier this year that the Council has taken a decision to close the home delivery service sector in 2023.
Katri Laanela, director of Express Post, explained at the time that the main reason for the closure of the home delivery sector is the growing loss every year, which mainly comes from the continued growth of input prices and operating costs, while volumes of paper newspapers are decreasing. In connection with this decision, approximately 450 people were fired during the year, most of whom were engaged in the morning delivery of periodicals.
Laanela said Express Post is an active company, which today continues to manage the subscriber base of small publishing houses. “We took care of this before and after the closure of the take-home, we continued to manage the order base as before,” she added. Laanela confirmed that the activity will continue next year. The company currently has no plans for further layoffs.
Express Post currently has 6 employees.
Õhtulehe Kirjastus buys Express Mail
AS Õhtuleht Kirjastus, which belongs to AS Ekspress Grupp, announced on Thursday that it has signed an agreement to acquire 100% of the shares of AS Express Post.
“The acquisition of Express Post will help strengthen Õhtuleht Kirjastuse’s ability to offer order center services to other media companies as well. The sale of Express Post shares is in line with the long-term strategy of the Ekspress Group, according to which we have decided to abandon the home delivery business and focus on growing the digital revenue base,” said Mari-Liis Rüütsalu, Chairman of the Board of Directors of Ekspress Group.
The terms of the transaction are confidential by agreement of the parties. The transaction will be completed by April 30, 2024, if the conditions for completion of the transaction exist.
Comment Read comments (1)
2023-12-25 13:00:00
the-largest-aggregator-of-the-year-the-company-has-not-ceased-operations-a-new-journey-awaits