Bulgaria-based package delivery firm Speedy has confirmed that it will purchase all the shares of DPD Romania and GeoPost Bulgaria. The acquisition deal is valued at €15.3 million, according to Post & Parcel.

Speedy said of the deal: "With the acquisition of the two companies Speedy will be able to focus on the consolidation of the two markets by providing integrated logistic services to its Bulgarian and Romanian clients. In addition Speedy will enjoy direct access to the ground network of DPD in Europe in its capacity as a full member."

The stakes in question will be acquired from La Poste's GeoPost Group and Turkey-based Yurtichi Cargo Servizi AS. In addition, GeoPost will acquire a minority holding in Speedy, the report added.

Speedy will use the investment from GeoPost for its acquisition of DPD Romania and GeoPost Bulgaria. In addition, the company is securing a long-term investment loan to fund the transaction, Post & Parcel reported.