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A consortium of investors has announced an agreement has been reached to acquire all shares of Polish-founded parcel locker company InPost, a company specialising in self-service lockers for small and medium parcels for online vendors.
“Funds managed and/or advised by Advent International, L.P. and its affiliates, FCWB LLC, a wholly owned subsidiary of FedEx Corporation, A&R Investments Ltd. and PPF Group , together with InPost… have reached a conditional agreement on an intended recommended all-cash public offer for all issued and outstanding shares in InPost at an offer price of €15.6 per share,” a company statement said.
The company is known for having developed and launched a proprietary parcel machine in Poland called a Paczkomat, which can only be used for machines of the InPost form.
The Paczkomat has become a hugely popular service and their recognizable white vending machines are found across the country, usually placed in subway stations or local shops.
“Together, we will strengthen our network and reach more consumers with enhanced fast and flexible delivery options as we continue our objective of redefining the European e-commerce sector,” Rafał Brzoska, CEO and founder of InPost, said in the statement.
Brzoska to continue as chief executive
He said both he and the group’s decision-making centre will remain in Poland.
“Importantly, I remain fully committed to leading the InPost Group. Our headquarters, management team and key innovation capabilities will remain in Poland, which will continue to be the centre for implementing the group’s successful strategy,” the InPost chief executive said.
InPost has also been expanding internationally. The company operates in the UK, where it last year bought competitor Yodel, acquiring 95.5% of its shares.
It is also active in other European markets, managing parcel deliveries to Italy, France, Belgium, the Netherlands, Luxembourg, Spain and Portugal.
Following the transaction, FedEx will become the new shareholder.
Before the deal was announced, InPost was owned by PPF Group, A&R Investments — a fund owned by Brzoska — and Advent International, with just over 50% of shares held by other shareholders.