Press Release

TPG acquires French logistics group Transports Nicolas

Publish Date : 18 April 2002 at 15:17 CET - Mail, Express and Logistics company TPG N.V. announced today that through its division TNT Logistics, it has acquired a 100% stake in the French logistics group Transports Nicolas.

Transports Nicolas is one of the leading logistics providers of temperature-controlled activities for the retail and fast moving consumer goods (FMCG) sector in France, specialising in fresh products.

Transports Nicolas had a turnover of EUR 115 mln in 2001, generating above industry average returns. The group employs 1,500 staff and has an extensive transport and distribution network, operating in 13 locations totalling 94,000m 2 . Its clients include major international and French businesses in a wide range of industries such as food, retail, automotive, tyres, steel making and telecoms.

The acquisition builds on the strong TNT Logistics presence in France. The combined entities will have over 3,500 employees with 740,000 m 2 of warehousing space and will focus on the strategic sectors of consumer goods, the automotive industry, tyres and telecom as well as the pharmaceutical industry.

The acquisition benefits customers of both TNT and Transports Nicolas by offering their combined expertise throughout France. In addition, Transports Nicolas can leverage its expertise in fresh products to customers outside of France.

Roberto Rossi, TPG's Group Managing Director for TNT Logistics, says, "The expertise and strong customer base of Transports Nicolas is a perfect fit with our sector-focused strategy in France, namely expanding our presence in the FMCG sector. This acquisition gives us vital state-of-the-art capabilities to distribute fresh products in France, as well as to support French retailers in their international expansion."

Michel Nicolas, CEO, and Daniel Nicolas, Vice-President of Transports Nicolas have agreed to take senior positions in the new management of the combined entities, which will be headed by Jean Pierre Barlatier, the current CEO of TNT Logistics France. The top management and employees of Transports Nicolas have given their full support to the acquisition and are very excited and motivated to take advantage of the combined capabilities to further grow the business.

Page publication date: 18 April 2002 at 15:17 CET