MBE Worldwide has snapped up PostNet International Franchise Corporation, a franchise with 660 locations in nine countries.
Both franchise companies operate in the business services industry, offering premium shipping, logistics, printing, graphic design and postal services. The two companies will maintain their individual names and concepts.
The acquisition of PostNet gives Mail Boxes Etc. a strong presence in the US and South Africa. Combined, the two companies will have an extensive reach of nearly 2,300 locations in 33 countries and based on 2016 results, system-wide annual sales of €530 million.
Paolo Fiorelli, chairman and CEO of MBE Worldwide, said “The MBE Worldwide team was attracted to PostNet because of its entrepreneur-driven, franchisee-focused and people-centric business model, which mirrors our business and culture. Also, PostNet is a respected brand in the industry with a strong US and international presence.”
Brian Spindel, co-founder, president and COO of PostNet said the move marks the beginning of a new chapter.
“Our acquisition by MBE Worldwide results in a new partnership with many opportunities to work closely with similarly-experienced colleagues to identify ways to accelerate growth and increase unit-level economics. Being part of a new global family furthers our mission to support entrepreneurs and small businesses everywhere.”
Spindel will continue to serve as president and COO of PostNet, reporting to Fiorelli.
Steve Greenbaum, founder and former chairman and CEO of PostNet, will serve as a consultant to MBE Worldwide on strategic matters.
MBE Worldwide, a family-owned Italian holding company based in Milan, acquired the worldwide Mail Boxes Etc. business (except for the United States of America and Canada, which remain under MBE Inc.) in May 2009 from UPS Inc. and its wholly-owned subsidiary, US-based MBE Inc..