bpost has agreed to acquire US-based e-commerce logistics and technology solutions firm, Radial.
Under the terms of the agreement, bpost will acquire 100% of the shares of the company Radial for around $820 million. The transaction is expected to close during the last quarter of 2017, subject to customary closing conditions. The transaction is expected to have a positive impact on earnings per share beginning in 2020.
Radial is a of e-commerce ‘omnichannel’ integrated logistics and technology solutions with headquarters in King of Prussia, Pennsylvania, USA. In 2016, Radial realized the fulfilment of more than 306 million pieces for its retail customers, through 24 fulfilment centres.
Radial’s annual revenues for 2017 are expected to be between $970m and $1,020m. EBITDA is expected to be between $65 million and $70 million by 2017.
Koen Van Gerven, CEO of bpost, said: “I am very proud of this acquisition, which represents a major step forward in achieving our growth ambition and allowing us to be a leader in the logistics sector dedicated to e-commerce both in Benelux, Europe and around the world. I am convinced that by offering integrated and consistent e-commerce logistics solutions to our American and European customers, we will help them grow their business. “
Source: Bpost
