French Post Office unit GeoPost – whose main components are DPD and Chronopost – has taken a sizeable stake in DTDC, India’s premier express courier company. GeoPost International’s Chief Operating Officer, Iain Johnson commented, “India is a critical global market which is set for strong courier, express, and parcel (CEP) growth. According to Lloyd’s Loading List.com the shareholding represents just over 39% of DTDC’s capital, but the value of the transaction has not been disclosed.
“India is a critical global market which is set for strong courier, express, and parcel (CEP) growth and we’re delighted to invest in one of its leading players,” said GeoPost CEO.”The partnership will give us access to an unrivalled footprint in India and a great management team that shares our ambition to be a leading global CEP player serving both B2B and B2C markets,” he added. Commenting on the tie-up, DTDC’s Chairman and Managing Director, Subhasish Chakraborty, said, “We are very excited about the partnership. DTDC will get access to European markets and new technologies.” He underlined that it would play “a huge role” in developing and strengthening business relations between India and France.
Mumbai-based DTDC describes itself as “India’s largest domestic delivery network company” with 23,000 staff, serving “the remotest places in India” (10,000 postcodes) and over 240 destinations internationally. It handles approximately 11.5 million consignments every month, backed by 6,000 network partners “spread across the length and breadth of India.” Earlier this year, DTDC moved into the Asia Pacific region and the Middle East through a mix of acquisitions and joint ventures. Agreements were signed with Eurostar (UAE) Fast World Express (Australia), Kuwait Bayarek General Trading & Contracting Co. (Kuwait) and Air Dragon Freight (China).
