Jersey Post has today confirmed that it has purchased the London Heathrow Airport-based Customs Broker – HICS Worldwide.
With huge global industry change, postal authorities worldwide are looking at opportunities to grow new revenue streams in order to support the decline in existing markets. Jersey is no exception to this and the acquisition of HICS represents an exciting opportunity that will support Jersey Post’s current business development plans for market growth both on and off-island.
Tim Brown, Chief Executive at Jersey Post commented, “The trend and preference for online shopping continues to grow, with individuals now seeking to shop globally, not just in their home country. Jersey Post sees international customs clearance as a critical enabler for the successful provision of worldwide end-to-end, cross border solutions. Our investment in HICS enables us to further extend the range of products and services we offer to Jersey-based businesses wishing to trade globally, but also allows us to reach those internationally-based organisations that wish to do business with Jersey.”
In particular, the acquisition will provide invaluable support for Jersey’s fulfillment customers. Despite the removal of Low Value Consignment Relief (LVCR) in 2012, Jersey still has a buoyant and expanding fulfilment industry. Through the acquisition of HICS, Jersey Post will be in an excellent position to help existing businesses to expand into new, overseas markets, as well as support new entrants in achieving their trading objectives and goals.
In addition, the acquisition provides synergy with the purchase of Fraser Freight, a premium European logistics freight services company, earlier in 2016 for Jersey Post to be able to offer complete, international trading routes into and out of European and international destinations. However, the benefits of the company purchase are not purely financial, and through this acquisition, Jersey Post will have access to an exceptionally high level of industry knowledge and expertise that staff at HICS have developed over the past 28 years.
HICS Worldwide was established in 1988 and was one of the first independently owned customs brokers to offer a complete brokerage package for courier, airfreight and sea freight arrivals in the UK. Following 28 years of successful trading, the organisation currently has full clearance facilities at Stansted, Gatwick and London Heathrow airports.
Paul Burness, Managing Director at HICS, stated “We are delighted with the progression of the company sale. The acquisition represents a fantastic opportunity for HICS to continue to build on our 28 years of trading experience and success. Our mutual desire for business growth in new markets is something that we’re very much looking forward to working on with our new colleagues within the Jersey Post Group.”
Through this acquisition, Jersey Post has retained all existing staff at HICS and there have been no compulsory redundancies either at HICS, or at Jersey Post as a result.
As a result, Jersey Post continues to extend its range of products and services, for those customers based on-island, as well as those located worldwide and served by our global services division.