Acquisitions

Strategically important cornerstones

Deutsche Post DHL has made several strategically important acquisitions during the last years with the goal of becoming the number one logistics provider in the world. Additionally, Deutsche Post DHL has made more than 100 larger and smaller acquisitions in the last few years.

The acquisitions policy is based upon two fundamental decision criteria:

• Strategic fit: All acquisitions are required to fit well with the Group from a strategic point of view. One prerequisite is the improvement of the Group's portfolio in terms of product line, regional coverage or market position.
• Financial fit: The acquisition has to increase the company's value. Hence, the investment is expected to generate a return on total invested capital that is equal to or higher than the Group's cost of capital (i.e. 8.5% as stated in Annual Report 2008).