InPost, a French ‘out-of-home delivery’ company, has finalised the acquisition of Mondial Relay with Otto Group. The value of the transaction was €513m. This comes just under a year after Otto Group sold 75% of UK Hermes and 25% of Hermes Germany to Advent International. It has been reported that this transaction makes InPost the largest e-commerce delivery platform in Europe.
InPost indicates that the transaction will allow it to significantly expand the market and accelerate its international development strategy, enter the attractive markets of France, the Benelux countries and the Iberian Peninsula, as well as increase EBITDA by approximately €100m-150m in the medium term.
“We have completed a strategically important acquisition, and the extensive Mondial Relay network in one of the largest e-commerce markets in Europe will allow InPost to accelerate its international expansion strategy. With Mondial Relay, we are becoming Europe’s leading out-of-home delivery solution for e-commerce. We can use many synergies to grow even faster and create value for our stakeholders. We welcome our Mondial Relay colleagues to the InPost team and we are delighted to begin our journey together. Together we will increase demand and redefine last-mile deliveries for consumers,” said CEO Rafał Brzoska, CEO, Inpost Group.
InPost and Mondial Relay together delivered over 440m shipments in 2020, supported by a network of approximately 28,000 locations at APM and PUDO points. Mondial Relay, with an extensive network of PUDO points and wide pan-European trade relations, will allow InPost to accelerate the implementation of international expansion plans. It will also ensure an immediate presence in one of Europe’s largest e-commerce markets with a strong accelerated growth foundation, Mondial Relay’s scalable logistics network, broad pan-European trade relations, and strong consumer recognition – which will provide a strong foundation for further growth.
In April, InPost announced that it had entered into a binding agreement to acquire 100% of Mondial Relay shares and announced that the transaction would be finalized by the end of Q2 2021, after obtaining regulatory approvals. In mid-March, InPost announced that it was planning to acquire Mondial Relay for approx. €565m.
Source: Property Forum
