CEE M&A Monitor
Parcel delivery · logistics Serbia Acquisition — completed 1 Oct 2026

Austrian Post closes acquisition of Serbian parcel carrier D Express

Österreichische Post AG announced on 1 October 2026 that it had completed the acquisition of 100% of Serbian parcel delivery company D Express after approval by the Serbian competition authority. In 2025 D Express had about 1,300 employees, transported around 14 million parcels and generated revenue of about €36 million. Its infrastructure includes its own logistics centre in Belgrade, 27 delivery bases, 35 parcel shops, more than 300 parcel lockers and around 800 vehicles. Austrian Post already owns City Express in Serbia; with closing, the two companies will be brought together step by step into one company. The parties agreed not to disclose the price. Austrian Post says the deal makes it the new market leader in Serbian parcel delivery.

Our take This is a classic buy-and-merge in a network business: the buyer already had a Serbian carrier and is adding the second one to combine depots, routes and lockers. In parcels, scale in one country lowers the cost per delivery, which is why strategic buyers usually pay most for local competitors. The disclosed figures — €36 million revenue, 14 million parcels, 1,300 staff — give a useful reference for how such regional carriers are sized, even without a price.
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