Parcel locker service InPost has agreed to buy a 30% stake in news wholesaler Menzies Distribution for £49.3m, reports suggest.
The deal reportedly includes a three-year option to acquire the remaining 70% of the British company, which after the transaction will also be owned by private equity firm Endless (52%) and by other shareholders, including its current management (18%).
Menzies, a logistics provider with a national network of more than 100 depots that deliver to over 47,000 locations every day, has been in an exclusive partnership with InPost since earlier this year.
InPost said the all-cash transaction would give it “the ability to scale at speed” in the country to match increasing consumer demand, according to reports.
Michael Rouse, Chief Executive International of InPost, said in a statement to Reuters: “Menzies has one of the largest time-critical delivery networks in the UK and we are excited by how the collaboration will enable us to accelerate our growth and the service we can offer our customers.”
