UK's PFE International bought by mailing giant Neopost

PFE, a privately owned company founded in 1963, generated £29.3m in sales in 2006, with almost 80% from outside the UK. The 480-staff company's distributor network covers 55 countries as well as 10 subsidiaries in Australia, the US, Singapore and seven European territories, including the UK.

Both Neopost and PFE offer folding and inserting products, but Neopost is mainly focused in the lower-volume market, while PFE is strong in the higher-volume market. The transaction will result in a more comprehensive product line for Neopost and a reinforced distribution market.