NETHERLANDS: TNT Express to sell fashion logistics business
Delivery firm TNT Express N.V. has agreed to sell the Dutch operations of its fashion logistics business TNT Fashion Group B.V. to a consortium formed by Belspeed and Netlog Group.
TNT Fashion Group offers supply chain services for the fashion industry, including warehousing, packing/repacking, distribution, retailing and e-fulfilment services, employing 660 people. There will be no change in workforce as a result of the deal.
The move, which is part of the group's strategy to focus on its core activities, will see the UK operations of TNT Fashion integrated with TNT Express UK and Ireland.
The transaction, which is subject to consultation of the works council of TNT Fashion Group and regulatory approval, is expected to close at the end of the second quarter.
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