bpostgroup has signed an agreement to acquire 100% of third party logistics company Staci’s shares from Ardian and other minority shareholders, with a view to position itself as a leader in e-commerce and omnichannel logistics and fulfillment in Europe.
Staci’s services – well-established in various European countries, partially in Asia, and in the USA – are expected to complement those of bpostgroup, namely the subsidiaries Active Ants and Radial, and amplify their service offering. Staci’s customer base covers e-commerce customers as well as clients active in fast-moving consumer goods, retail, laboratories, health, cosmetics, industry, energy, banking and insurance, hospitality, private or public services. The company is focused on the parcelization trend of business logistics (B2B). The proposed acquisition will enable synergies in the short term and offer the opportunity to grow further and to leverage newly acquired capabilities to support bpostgroup’s growth strategy, including in Belgium.
It is intended that the management team and all employees of Staci will remain on board, so that the group can continue to rely on their expertise and experience. After the transaction closes, it is expected that Staci CEO Thomas Mortier will become member of the executive committee of bpostgroup and will lead the new business unit 3PL.
Staci reported normalized annual revenues of €771m (US$838m) for 2023, while the pre-IFRS 16 EBITDA stood at €110m (US$119m). Under the terms of the proposed transaction, bpost would acquire 100% of the shares of Staci from Ardian and other minority shareholders for an enterprise value of €1.3bn (US$1.4bn) pre-IFRS 16.
bpostgroup plans to finance the transaction by using a bridge financing upon closing and a part of its available cash. The transaction is subject to prior communication and consultation with the relevant employee representatives and is expected to close in September/October 2024, following receipt of regulatory approvals.
The agreement aims to upgrade bpostgroup’s portfolio in Europe. Through the acquisition, bpostgroup intends to gear up its strategy to strengthen its B2B offering and will create more synergy potential within the group. bpostgroup will gain immediate access to knowledge and technology of B2B, e-commerce and brick-and-mortar businesses. The new collaboration will bring talents and capabilities to the group, and will also contribute to the ongoing transformation of its Belgian activities.
Chris Peeters, CEO of bpostgroup, said, “This transaction will drive us forward in bringing our strategy to life. It facilitates synergies, enriches our portfolio and harmonizes with our existing capabilities. The contemplated acquisition of Staci is fully in line with the strategic choices bpostgroup had already made and presents the potential for a robust B2B-service offering. Also, bpost in Belgium can expect extra volumes in its last-mile-delivery network. Moreover, this transaction promises growth, sustainable employment and enduring value creation.”
Peeters continued, “I am convinced that with the contemplated acquisition of Staci, we will be ready for robust growth. The B2B logistics sector, including in Belgium, holds immense potential. Our collaboration with Staci will bring us expertise, innovation power and customer insights, enabling us to craft a complete customer-centric offering tailored to their needs. With this strategic change, we aim at possessing the assets, potential and ambition to excel as an international logistics player, securing a sustainable future for our company and employees.”