Citing sources close to the deal, Sky News reported on Monday that the transaction could be finalized as soon as this week.
The acquisition will give InPost a 70% stake in Menzies, adding to the 30% it already purchased in July last year for over EUR 58 million (GBP 49.3 million). This deal will see InPost fully take control of Menzies, a major player in the UK logistics sector. A clause in the original purchase agreement had granted InPost the option to acquire the remaining shares within three years, a move the company has now accelerated.
Listed on the Amsterdam stock exchange, InPost has rapidly expanded its footprint across Europe, although the bulk of its profits still come from its operations in Poland. The company is best known for its network of automated parcel lockers.
Sky News highlighted InPost as one of the most successful companies in the parcel locker industry across Europe, noting that its valuation has surged by approximately USD 9 billion over the past year. This financial growth is closely linked to the booming demand for online shopping and the subsequent increase in demand for courier services.
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Source: PAP