Australia Post divests MailPlus

Australia Post has announced plans to divest its 75% shareholding in the PUDO network MailPlus.

The sale is to be made to MailPlusHolding Co that is owned and operated by the company’s original founder and CEO Chris Burgess. Currently the Burgess Family Trust holds the other 25% of the company.

MailPlus is a pick up / drop off (PUDO) franchise for small and medium businesses. Australia Post’s board made the decision that this is no longer core to the postal operator’s strategic objectives.

The sale is expected to be completed by 31 January 2019 with the change of ownership taking effect from that date. The divestment is not expected to have a material impact on Australia Post’s financial statements for the financial year ending 30 June 2019.