You can do this, but the headers will show the
addresses as expanded from your alias. Won't
blacklist you, but it is not good practice.
Not sure if this is same process as originally proposed but the following does not show all recipients...
In /etc/postfix/aliases...
groupname: :include:/path/to/groupname.txt
In groupname.txt (using plaintext editor)...
name1@some.domain
name2@other.domain
Reload aliases...
# newaliases
# postfix reload
Mail sent to groupname@your.domain gets passed to amavisd once before then being relayed out for each individual recipient.
Mail.log shows "to=<name@recipient.domain>, orig_to=<groupname@your.domain>", for each outgoing mail.
The recipient sees the To: field as being groupname@your.domain. Extended headers show "Delivered-To:" headers for both the groupname and individual recipient.
Certainly not as personal as a merged letter though. I have used only for work groups rather than clients, etc.
-david