InPost has completed the acquisition of the British company Menzies. Last year, it purchased a 30% stake for £49.3 million and secured a three-year option to buy the remaining 70%, which it exercised after just one year. On Tuesday, InPost announced that it had purchased the remaining shares for £60.4 million. This means the acquisition of the British company cost a total of £109.7 million.
InPost Completes Major Acquisition, Aims to "Revolutionize" the Market
We did it!! Another significant step - we’ve acquired the British company Menzies, a firm with nearly 200 years of tradition, nearly 3,000 employees, coverage across the entire UK and Ireland, logistics + newspaper delivery - including to the Royal Family throughout the year. We’re strengthening the Polish brand in the UK!
- wrote Rafał Brzoska, founder and CEO of InPost, on social media.
By taking full control of Menzies Express and Newstrade, we will be even better prepared to offer customers and sellers a unique combination of quality, price, and convenience. Our long-term goal is to revolutionize the British e-commerce market. Together with Menzies, we’re creating an integrated organization that will meet the growing consumer demand for deliveries to InPost Parcel Lockers in the UK
- Brzoska said, as quoted in the press release.
InPost aims for parcels in the UK to reach Parcel Lockers the day after being ordered. "In one group, it will be easier for us to succeed in the logistics sector by serving the B2C (business-to-consumer) market at a faster pace—especially as more British consumers discover the advantages of Parcel Locker devices. The acquisition helps combine the strengths of both organizations and builds on the commercial progress achieved under the leadership of Menzies Group CEO" - said Neil Kuschel, CEO of InPost UK. InPost currently has over 8,000 Parcel Lockers in the UK.
InPost Strengthens Its Position in the UK Through Consolidation
Menzies is one of the largest logistics companies in the UK. Before the transaction, it consisted of three segments: Express, Newstrade, and MDS. InPost acquired stakes in only two of them: Express and Newstrade. The third segment, MDS, which is mainly responsible for full-load transportation and warehouses, was separated from Menzies and remains under the control of Endless LLP. It will continue to be managed by the current leadership, and InPost will have a 30% stake in it.
The British company boasts on its website that it delivers to over 45,000 locations daily and handles more than 31 million parcels weekly. InPost's press release stated that thanks to synergies with Menzies, it achieved a 156% year-over-year increase in parcel volumes in the UK in the first half of 2024.
Rafał Brzoska is a Polish entrepreneur—the founder and CEO of InPost. In 2021, he ranked seventh on Forbes magazine's list of the richest Poles, with an estimated wealth of 5.7 billion złoty. As of 2021, he owned 13% of InPost shares. In 2023, he acquired 187,218 shares of InPost at an average price of €10.40 per share.
