Polish parcel service provider InPost has announced plans to acquire 100% shares in Mondial Relay, a leading French e-commerce out-of-home (OOH) parcel delivery platform, for approximately €565m (US$671m).
The acquisition is part of InPost’s plans to become Europe’s leading out-of-home solution for e-commerce and continue its international growth following a successful year in 2020.
Rafal Brzoska, founder and CEO of InPost, commented, “I am delighted that we have announced the proposed acquisition of Mondial Relay, the leading independent out-of-home e-commerce parcel delivery service in France. As we outlined during our recent IPO, international expansion is a key element of InPost’s growth strategy and Mondial Relay would give us an immediate footprint in one of Europe’s largest e-commerce markets, providing multiple levers to accelerate our overall growth and create shareholder value.
“The announcement follows an outstanding year for InPost having delivered 310 million parcels and expanded our APM network by almost 50% over the course of 2020. This incredibly strong operational growth has translated into an exceptional financial performance. In 2020, we doubled our revenues, increased EBITDA by 184% and improved our free cash flow conversion to 38%. This strong momentum has continued into 2021, with parcel volumes in the first two months of the year more than doubling vs. the same period last year, and I remain very excited about the long-term growth opportunity ahead of us as we continue to redefine the last mile for e-commerce.”
Michael Rouse, CEO International of InPost, added, “Mondial Relay’s extensive network of approximately 16,000 pick-up and drop-off points fits perfectly with our innovative APM solutions and we see significant opportunity for the combination to unlock untapped demand and redefine the last-mile delivery experience for consumers. This proposed acquisition would make InPost the leading Pan-European out-of-home solution for e-commerce, significantly accelerating the benefits of our APM flywheel to consumers, merchants, business partners and the environment.”
InPost is being advised by Citigroup Global Markets Europe and Goetzpartners in relation to the proposed acquisition.