17:44 15 October 2024
InPost increases share in the UK’s Menzies for PLN 310 mln
InPost, a leading Polish parcel locker network operator, has acquired the remaining 70% stake in two divisions of British logistics company Menzies – Menzies Express and Newstrade. This follows InPost’s initial investment of £49.3 million for a 30% stake in 2023. The recent acquisition brings InPost’s total investment to over £110 million (around PLN 550 million).
Menzies Express handles small parcel logistics, while Newstrade focuses on press deliveries in the UK and Ireland. This strategic move aligns with InPost’s plan to expand its logistics capabilities and strengthen control over its operations. InPost has been rapidly growing in the UK, where it operates over 9,600 collection points, including 7,500 parcel lockers. The company handled 23.6 million parcels in Q2 2023, marking a 163% year-over-year increase.
InPost’s CEO, Rafał Brzoska, highlighted that the acquisition enables better control over logistics and supports the launch of next-day delivery services in the UK and potentially Ireland. Menzies' third division, MDS, focused on warehouse and heavy truck transport, remains under separate ownership, with InPost retaining a 30% stake. InPost's UK business generated significant growth, nearly tripling its revenue in the first half of 2023.
(pb.pl)
