Thanks to the acquisition of Menzies, InPost can accelerate the development of the parcel locker network in the UK. Britain

InPost acquired 30% of shares in Menzies Distribution Group for cash, and the financial terms of exercising the option to purchase another 70% will not be disclosed. The price of the call option will depend on the company’s financial results and will not necessarily include a premium for taking control, InPost representatives informed. They signaled that the transaction may accelerate the development of the parcel locker network against previous forecasts of 15,000. parcel lockers in the UK in the medium term (5 years).

InPost Group said earlier on Wednesday that it had acquired a 30% stake and voting rights in Menzies – a logistics company operating in the UK and Ireland markets – for £49.3m. In turn, in May The companies entered into a strategic partnership agreement under which InPost secured a 3-year option to acquire the remaining 70% stake in Menzies. The strategic partnership gives the opportunity to handle growing volumes of shipments 7 days a week – without the need to incur additional investment expenditures on the part of InPost.

InPost Group CFO Adam Aleksandrowicz said that the price of the call option will not necessarily include a premium for taking control.

“We entered into an agreement to acquire a 30% stake in Menzies in a transaction value of £49.3m, all paid in cash. We have also secured an option for 70% within 3 years and throughout this three-year period we have the option to exercise it, and the decision whether it is exercised or not lies entirely with InPost. InPost receives two seats in the company’s board of directors – non-execuvite directors seats – i.e. the equivalent of the supervisory board. We will have full knowledge and ability to make strategic decisions in the development of Menzies. The current management board of Menzies remains at the helm of the company,” Aleksandrowicz said during the teleconference.

“Point investments can happen, but we do not see the need to make them for 24 months, and if they happen after that time, they will be relatively low. Menzies is a profitable business today and generates positive cash flow, generates cash. […] These 50 million pounds do not affect our investment outlays, which – as we announced – we expect this year at PLN 1.2 billion,” he added.

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Menzies Distribution Group, a UK-based company, delivers to more than 47,000 locations every day. Menzies has 100 branches in the UK and Ireland, a central sorting yard and 9 regional sorting yards, manages a fleet of over 3,200 vehicles and employs over 5,000 employees. It specializes in logistics services in sectors where timely deliveries are of key business importance.

InPost is a delivery platform for e-commerce. Founded in 1999 by Rafał Brzoska in Poland, InPost has a network of parcel lockers in Poland, Great Britain and Italy, and also provides courier and fulfillment services for e-commerce sellers in Poland. In July 2021, he completed the acquisition of the French company Mondial Relay. In January 2021, InPost debuted on the Euronext Amsterdam stock exchange.

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