Austrian Post has completed the acquisition of a 70% stake in Bulgarian e-commerce logistics provider euShipments.com for €55m (US$63.5m), strengthening its cross-border e-commerce capabilities in Southeast and Eastern Europe.
The transaction, which has now closed, also includes an option for Austrian Post to acquire the remaining 30% stake within the next four years.
According to Austrian Post, the acquisition supports its long-term growth strategy and expands its role as an integrated service provider for online retail logistics.
Walter Oblin, the CEO of Austrian Post, said, “With this closing, we are taking an important step in implementing our LEAD 2030 growth strategy. Together with euShipments.com, we are creating an even more powerful e-commerce ecosystem that supports retailers along their international value chain.”
He added that the partnership would open development opportunities in a region where online retail is expanding rapidly.
Peter Umundum, deputy CEO and board member for parcel and logistics at Austrian Post, added, “With euShipments.com, we have an innovative solution that connects small and medium-sized enterprises quickly and easily to a wide variety of e-commerce portals via a single interface. This gives retailers direct access to markets in Southeast and Eastern Europe and, if desired, also in Western Europe.”
Svetlozar Dimitrov, the CEO of euShipments.com, said the deal marks the beginning of a new development phase for the company.
“With the successful closing of this transaction, we are entering a new phase of strategic development for euShipments.com,” Dimitrov said. “Together with Austrian Post, we can rapidly advance the company’s business, further expand our fulfillment network and offer even greater added value to the online retailers we serve.”
Founded in 2012, euShipments.com provides integrated e-commerce services including fulfillment, cross-border transportation, returns management and payment processing. The company currently operates nine fulfillment centers primarily across Southeast and Eastern Europe, and serves more than 1,300 online retailers.
The company employs more than 400 people and generated revenue of more than €50m (US$57m) last year.
Prior to the transaction, euShipments.com was backed by private equity firm BlackPeak Capital, which invested in the company in 2022 and has now exited its position following completion of the deal.
euShipments.com has also recently expanded its logistics network with new fulfillment facilities in Bolzano in Italy, and Barcelona in Spain, increasing its warehouse capacity by more than one-third.
In related news, Austrian Post acquires parcel operator Sameday Hungary
