A relationship which began with Polish logistics firm InPost entering an exclusive logistics partnership with UK firm Menzies, earlier this year has turned into something a little more...with InPost acquiring a 30% equity stake in the UK firm for £49.3 million in an all-cash transaction.
This deal comes with the additional agreement that InPost can upgrade its 'promise ring' proposal to the full 'wedding band' in a three-year option to acquire the remaining 70% equity stake in Menzies. Menzies Board of Directors also rearranges its seating plan to accommodate two non-executive seats for InPost to join.
The £49.3 million investment gives InPost the opportunity to scale its automated parcel machine (APM) service in the UK offering customers 'a secure, low cost, and environmentally sustainable way of sending and receiving parcels'.
“With this strategic transaction, we have reached a significant milestone, which represents an exciting opportunity for both our UK business and InPost Group as a whole. With Menzies we can offer a unique service in the UK e-commerce market by delivering parcels over 360 days a year. We look forward to the transformative impact of this partnership," says Rafał Brzoska, CEO of InPost.
"We are proud to partner with InPost and are excited about the opportunities this will create for our clients, our business, and our people. InPost and Menzies are uniquely positioned to deliver fast, sustainable delivery and returns in the UK benefiting consumers, retailers, suppliers, and our colleagues. We look forward to the future and supporting InPost’s next phase of growth in the UK." says Greg Michael, Menzies’ CEO.
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