Deutsche-Post buys British logistics firm Exel

German postal and logistics company Deutsche Post AG today said it will take over the British-based Exel for €5.5bn.

The deal, which still has to be approved by Exel shareholders, is the largest international acquisition for Deutsche Post.

John Allan, the head of Exel, urged shareholders to approve of the merger. Allan is to lead the integration process and remain the head of the newly combined logistics activities, the company said.

“Through the combination of Exel and the logistics of the Deutsche Post World Net we will create an unprecedented international presence,” said Klaus Zumwinkel, head of Deutsche Post.