A group led by holding company Advent together with logistics firm FedEx has reached an agreement to acquire InPost for €15.60 per share, putting the enterprise value of the parcel locker operator at €7.8 billion, or approximately $9.2 billion. The consortium said the purchase is intended to accelerate InPost’s growth across Europe while the company remains under private ownership.
InPost, which runs operations in nine countries including its home market of Poland, is known for having one of the continent's largest networks of automated parcel machines, often referred to as APMs. Since listing in Amsterdam in 2021, the company has faced muted investor confidence as aggressive, fast-paced expansion investments weighed on near-term profits, the consortium noted. Last year the company completed several deals, including the acquisition of Britain’s Yodel and a Spanish delivery business.
According to the terms shared by the buyers, Advent and FedEx will each hold 37% of the company following the transaction. InPost CEO Rafal Brzoska’s investment vehicle, A&R, is set to retain a 16% stake, while PPF, the investment firm linked to the Kellner family, will take the remaining 10%.
Advent, A&R and PPF currently hold stakes in InPost. Advent, which acquired a majority stake in 2017, has since reduced its holding to 6.5%. A&R and PPF are listed on the company website as owning 12.49% and 28.75% respectively. The parties said the firm will continue to be called InPost and maintain its existing management team and headquarters in Poland.
Under the new private ownership structure, the group plans to extend InPost’s footprint into additional European markets, explicitly citing France, Spain, Portugal, Italy, the Benelux region and Britain, which the statement described as Europe’s largest e-commerce market. The consortium reiterated the focus on bolstering the network to reach more consumers and provide faster, more flexible delivery options.
"Together, we will strengthen our network and reach more consumers with enhanced fast and flexible delivery options as we continue our objective of redefining the European e-commerce sector," Brzoska said in the statement.
The parties indicated they expect the transaction to close in the second half of this year. For reference, the conversion used in the announcement was $1 = 0.8445 euros.