Poland’s InPost Unveils $674 Million French Deal in Foreign Push
(Bloomberg) -- InPost SA is buying French logistics firm Mondial Relay SASU in a 565 million euro ($674 million) deal that will expand Polish parcel locker operator’s international presence.
The transaction -- funded by new debt -- will add about 16,000 pick-up points in France, Benelux, Spain and Portugal to company’s automated lockers network and boost its profits by 100-150 million euro in the medium term, InPost said in a statement on Monday. Its shares jumped as much as 6.3% in Amsterdam.
The announcement comes as the Polish company more than doubled its 2020 revenue with profit rising by 184%. Its domestic network of lockers grew by 50% as the pandemic accelerated online shopping. InPost also said that parcel volumes in the first two months of the year doubled year-on-year.
InPost has been trying for years to expand abroad after becoming a leading player in e-commerce delivery in Poland. Chief Executive Officer Rafal Brzoska told Bloomberg in an interview last month that the company wants to double its U.K. network of automated lockers and will seek to buy logistic companies in France in early 2021.
InPost said it increased its medium-term capital spending plans abroad to 250-320 million zloty ($65-$83 million) from 100-120 million zloty previously. It seeks to roll out automated lockers in existing pick-up points that are getting saturated as volumes spike with more people working from home.
“International expansion is a key element of InPost’s growth strategy,” Brzoska said by email. “Mondial Relay would give us an immediate footprint in one of Europe’s largest e-commerce markets.”
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