News in Brief

Loomis Expands in Switzerland

Swedish cash management service provider Loomis has announced that it has entered into an agreement to acquire certain assets and liabilities of SecurePost AG, a subsidiary of Die Schweizerische Post (Swiss Post Group).

The acquisition is through its wholly-owned subsidiary Loomis Schweiz, and includes all relevant customer contracts, employees and operational assets. New commercial agreements with other entities of the Swiss Post Group have been agreed and will take effect at the closing of the transaction, which is valued at approximately CHF 17.5 million.

SecurePost has a nationwide footprint in Switzerland and around 440 employees. Revenues in 2020 were approximately CHF 66 million. In addition to traditional CIT and CMS activities, the company also has a portfolio of 1,300 smart safes, which will be integrated into Loomis Schweiz’s SafePoint portfolio.