PayPoint buys Yodel’s stake in CollectPlus

CollectPlus logo

PayPoint has taken full ownership of the CollectPlus parcel network, after paying £6m to Yodel for its half of the business.

CollectPlus was set up as a joint venture between PayPoint and Yodel in 2009.

PayPoint will continue to increase the CollectPlus capacity and Yodel has committed to a multi-year contract to continue as a parcel carrier for the network.

Nick Wiles, Executive Chairman of PayPoint, said: “This is an extremely important moment for Collect+ which has grown substantially to become the UKs biggest parcel network, working with major carriers such as DHL, FedEx and Yodel and retail giants such as Amazon and eBay.

“There is substantial opportunity for further expansion – both in terms of the partners we work with and the numbers of outlets we have. We are very excited about the future of Collect+.”