The acquisition underlines the group’s strong position in the UK, Germany and France, Europe’s three largest e-commerce markets, according to Deutsche Post DHL group board member, Juergen Gerdes.  

He said: “The on-going expansion of our parcel network in Europe is driven by increasing demand within our e-commerce customer base for cross-border deliveries.”

“Deutsche Post DHL Group, as the leader in the German parcel market, has already established a strong position in a number of European countries. UK Mail is a well-run business and an established provider of quality delivery services in the UK and offers a complementary fit with our integrated offering,” he added.

Following the announcement on 28 September, UK Mail’s share price jumped 43% to 440.25p. Deutsche Post share price was up 0.9%, at the time of writing, to €27.85.

UK Mail was founded in Harrow in 1971 as a taxi company and quickly developed into an overnight courier and parcel delivery company. It was named Business Post in 1986 and listed on the London Stock Exchange in 1993. After expanding into mail and international delivery, the company rebranded in 2009 as UK Mail and went on to become the UK’s biggest independent postal operator with over 50 sites and around 2,800 employees nationwide.

The acquisition will give UK Mail customers direct access to Deutsche Post DHL's global parcel network logistic capabilities, provide new business opportunities and significant synergies, according to UK Mail chairman Peter Kane.

In a statement he said: "We have made good strategic progress in recent years, establishing leading positions in our key markets of parcels and mail, investing in additional capacity in our operations and in IT and product and service innovation.

"However, the board believes that UK Mail will benefit significantly from becoming part of Deutsche Post DHL, and will be better positioned to continue to develop our parcels and mail businesses with the benefit of Deutsche Post DHL's greater financial and operational resources.”