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Guernsey Post Ltd has acquired the Channel Islands and UK based freight company HR Air Ltd.
The acquisition is for an undisclosed sum and the States-owned utility says it "will have no impact on headcount" at either Guernsey Post or HR Air.
“The acquisition of HR Air was a unique and targeted opportunity," said Guernsey Post Chief Executive Boley Smillie. "Iit is an established and successful freight company with expertise and infrastructure that is complementary to our own."
"Both Guernsey Post and HR Air will continue to operate independently but each will benefit from sharing knowledge and expertise which will provide a platform to materially strengthen and secure both businesses”.
Pictured: Mr Smillie said the two companies will share expertise but remain operationally independent.
HR Air was founded in 1987, initially as Channel Island Services and later Huelin Renouf Airfreight. In 2001 HR Air established handling services at London Heathrow Airport. Now the company has operations based in Guernsey, Jersey and Heathrow providing services to global freight and logistics companies, including air and sea freight, consignment collection services and distribution and delivery services.
Guernsey Post Chairman, Simon Milsted, said: “The demands within our industry are ever-changing and never more so than at the present time. The acquisition of a fully dedicated freight business with offices beyond our shores will offer many exciting opportunities to further strengthen and improve our service to the Island's population and business community.
“The acquisition of HR Air marks another significant milestone in Guernsey Post’s strategy to diversify its business and has been completed in the context of declining traditional letter mail volumes, a trend which has accelerated as a consequence of the global pandemic.
"Postal authorities all over the world are seeking to broaden revenue streams to offset the declines in existing markets. Guernsey Post is no exception, and this acquisition will represent an opportunity for both companies to better address the future with confidence.”
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