Polish delivery giant InPost takes full control of UK logistics firm Menzies

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Notes from Poland is run by a small editorial team and is published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support.

Polish delivery giant InPost has completed its acquisition of two businesses belonging to British logistics firm Menzies Distribution Limited for over £60 million (308 million zloty). The deal marks the latest step in a rapid international expansion by InPost, which has pioneered the use of delivery lockers.

Last year, the Polish firm purchased a 30% stake in Menzies for £49.3 million with an option to buy out the rest of the firm within three years. It has now taken up that option for two of Menzies’s businesses: Express and Newstrade, which handle deliveries of packages and newspapers.

A third business, Menzies Distribution Services, which is mainly involved in transhipment and warehousing, is not subject to the new transaction. Control of it will be retained by private equity firm Endless with InPost continuing to have a 30% stake.

“This is our second largest acquisition after Mondial Relay – and probably not the last one,” said InPost’s CEO and founder Rafał Brzoska, quoted by Puls Biznesu newspaper. InPost took over Mondial Relay – a French delivery firm with operations in France, Spain and Portugal – in 2021 for €513 million.

“Menzies’s nationwide logistics capability will give InPost the ability to scale at speed in the UK to match increasing consumer demand – serving the largest e-commerce market in Europe,” added the Polish firm in a statement.

“This acquisition enables InPost to fully control its UK logistics process and investment plan.”

Brzoska revealed that InPost’s UK business brought in £412 million in revenue in the first half of this year, up almost threefold compared to the same period in 2023.

At the end of the second quarter, InPost had more than 9,600 personal collection points in the UK, including 7,500 parcel lockers. In the second quarter, the firm handled 23.6 million parcels in the UK, an increase of 163% year-on-year, reports Puls Biznesu.

After announcing the acquisition of the remaining shares of Menzies, Brzoska signalled that InPost might look to Ireland – where Menzies also operates – as the next “natural step” in its growth.

The market welcomed the deal. On Tuesday, the share price of InPost, which is listed on the Amsterdam stock exchange, rose by more than 2%. Since Monday, when the media started to signal the impending full acquisition of Menzies, the Polish company’s shares have risen by about 5%.

In addition to the UK and Poland, InPost also operates in Spain, France and Portugal. In August, it was announced as a sponsor of Spanish football club Atletico Madrid.

This is the second time in recent months that a Polish company has taken control of a British brand. In September, travel listings firm eSky bought the rights to the Thomas Cook from Chinese conglomerate Fosun.

Notes from Poland is run by a small editorial team and published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support.

Main image credit: InPost press materials