Poste Italiane S.p.A., the financial services conglomerate and incumbent operator in the postal sector in Italy, has acquired Nexive Group S.r.l., the leading alternative player in parcel and mail delivery, from PostNL and Mutares.
For Poste Italiane, the acquisition is expected to generate economies of scale resulting from the consolidation of Nexive’s activities, further improving service levels for customers of both companies. The structural decline in mail volumes makes consolidation in mail a priority to ensure sustainability, employment level and accessibility to customers to the benefit of shareholders, sector employees, citizens, corporations, the public administration and the country as a whole.
Lincoln International acted as exclusive financial adviser to Poste Italiane throughout the process, providing mergers and acquisitions advisory expertise and supporting the negotiation of the transaction.
Matteo Del Fante, Chief Executive Officer of Poste Italiane, commented, “The acquisition will be key for Poste Italiane to shorten the time to break-even of its mail, parcel and distribution division.”
Francesco Silva, Managing Director at Lincoln International, added, “This is a strategic transaction for Poste Italiane with a concrete opportunity to generate value. We are proud to have advised publicly-traded Poste Italiane in this complex and sensitive acquisition, which required the utmost level of confidentiality.”
About Poste Italiane
Poste Italiane, with a market capitalization of approximately Euro 11 billion, is Italy’s largest employer. It operates in the areas of deliveries, logistics, savings, financial and insurance services and offers products and services to individuals, companies and public administration. The Italian government owns a controlling stake via direct and indirect holdings.
Nexive is a postal operator in Italy with an approximate 12% market share in the mail market, with annual volumes of approximately 350 million items and approximately 8 million parcels delivered in 2019. Nexive’s 2019 pro-forma revenues were approximately Euro 200 million with 1,300 employees and over 5,000 operators from partner companies.