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From Cigar Box to Acquisition, PostNet Sells to MBE


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Steve Greenbaum, co-founder of PostNet

Back in the day, Steven Greenbaum, then age 21, operated his independent pack-and-ship business “out of a cigar box” and with “bathroom scales,” as he told Franchise Times in 2008. This week Greenbaum sold PostNet, the franchise system he co-founded in 1992 that today has 660 franchise locations in nine countries, to MBE Worldwide.

MBE operates Mail Boxes Etc., like PostNet offering shipping, logistics, printing, graphic design and postal services. The purchase of PostNet gives Mail Boxes Etc. a strong presence in the U.S., South African and other countries. Combined, the two companies will have nearly 2,300 locations in 33 countries, the company said.

Brian Spindel, co-founder, will continue to serve as president and COO of PostNet. Greenbaum will serve as a consultant to MBE Worldwide on strategic matters. PostNet’s headquarters and the existing team will remain in Lakewood, Colorado, and the two companies will maintain their individual names and concepts.

“This move marks the beginning of a new chapter at PostNet,” Spindel said in a statement.

Greenbaum, founder and former chairman and CEO of PostNet, and Paolo Fiorelli, chairman and CEO of MBE Worldwide, weren’t giving interviews, an outside spokesperson said. But in 2008, he told Franchise Times’ Nancy Weingartner Monroe that great leadership comes with great responsibility. “Sometimes you find yourself giving away so much of yourself, so many pieces of yourself, that you’re drained,” he said.

He said he and Spindel worked well together: “I can see it, and Brian can make it happen."

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The latest news, opinions and commentary on what's happening in the franchise arena that could affect your business.

Tom KaiserTom Kaiser is associate editor of Franchise Times. He can be reached at 612.767.3209, or send story ideas to tkaiser@franchisetimes.com.
 
Beth EwenBeth Ewen is editor-in-chief of Franchise Times. She can be reached at 612.767.3212, or send story ideas to bewen@franchisetimes.com.
 
Nicholas UptonNicholas Upton is staff writer at Franchise Times. He can be reached at 612.767.3226, or send story ideas to nupton@franchisetimes.com.
 
Mary Jo LarsonMary Jo Larson is the publisher of Franchise Times Magazine and the Restaurant Finance Monitor.  You can find her on Twitter at
 twitter.com/mlarson1011.
 
Nancy WeingartnerNancy Weingartner is editor-at-large of Franchise Times magazine and the editor of the Food On Demand media project. You can reach her at 612-767-3200 or at nancyw@franchisetimes.com.
Follow her on Twitter at http://twitter.com/nanweingartner.
 

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