Neopost has completed a US$100m (£76m) acquisition of US parcel locker provider Parcel Pending as part of the company’s ‘Back to Growth’ strategic plan, which focuses on investment in the parcel locker business, particularly in the USA.
Neopost currently has approximately 4,400 parcel locker units installed in Japan and France and is looking to expand its horizons. According to the company, the US locker market is estimated to account for 40% of the worldwide market, excluding China. Parcel Pending is one of the leading package solution providers for residential, commercial, retail and universities across the USA and Canada, with a revenue of US$30m (£27m) in 2018.
Neopost CEO Geoffrey Godet said, “Parcel lockers is one of the four selected solutions we want to grow in the future. For Neopost, the acquisition of Parcel Pending is a major step forward in entering the very promising US parcel locker market. We are delighted to welcome Parcel Pending’s passionate team within Neopost. The combination of Neopost and Parcel Pending’s recognized technologies and know-how will enable us to provide state-of-the-art solutions and expand fast in the US market.”
Parcel Pending founder and CEO Lori Torres will remain as CEO and will lead the Neopost locker initiative in the USA. She commented, “We are excited to join the Neopost Family and leverage their fantastic team and expertise. Neopost was the perfect fit for Parcel Pending as, like us, they are committed to providing world-class customer service and innovation to our customers.”