Cargus and Urgent Curier finalize merger

Newsroom 22/10/2014 | 14:38

Courier service companies Cargus International and Urgent Curier, owned by investment fund Abris Capital Partners, will merge to become the second-largest player on the Romanian market, with a total turnover of RON 231.6 million in 2013, after FAN Courier.

The merger process by which Urgent Curier will be absorbed into Cargus was approved by Cargus International shareholders at the beginning of October.

Abris Capital Partners investment fund announced in June the acquisition of Urgent Curier.

Last year, Cargus International business increased 20 percent to RON 115.68 million, while net profits went down 1 percent to RON 6.53 million.

In 2013, the main players on the delivery services market were: FAN Courier – RON 280.5 million, DHL Romania – RON 220.42 million, TNT Romania – RON 164.41 million and UPS Romania – RON 119.87 million.