As Royal Mail continues to contend with falling letter volume, Greene has looked to bolster other aspects of the business. In the last 12 months, the company, whose history spans 500 years, has made a concerted push into U.S. parcels with two deals in the business-to-business delivery space—a $13.3 million purchase of Postal Express, which is focused in the Pacific Northwest, and a $90 million acquisition of Golden State Overnight, a California company. The new assets are part of Royal Mail’s European-based logistics arm that has propelled revenue growth recently as its U.K. postal division has slumped.