Oesterreichische Post (OeP – Austrian Post) announced on Tuesday that after Weber Escala, it intends to acquire the second largest Croatian agency for the distribution of advertising materials, ST Media. The value of the transaction has not been disclosed, and its completion is expected in the coming weeks, according to an official statement from OeP.
Earlier this year, the Austrian company already acquired the leading Croatian agency for direct marketing related to the distribution of advertising materials, Weber Escal, and expects that by merging it with the new acquisition, it will achieve a synergistic effect and save on costs. Although after the acquisition of ST Media it will control as much as three-quarters of the Croatian market for these direct marketing services, OeP does not expect problems regarding violations of fair market competition principles as “critical threshold values have not been exceeded,” claims a spokesperson for the Austrian Post. ST Media is expected to generate revenue of slightly more than two million euros in 2007, and it has over 10 years of experience in the distribution of unaddressed leaflets, brochures, and catalogs, OeP states.
