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HomeNewsBusiness NewsUPDATE 2-Poland's InPost offers $674 mln for France's Mondial Relay

UPDATE 2-Poland’s InPost offers $674 mln for France’s Mondial Relay

March 15 (Reuters) – Poland’s InPost aims to more double the size of its operations with a 565 million euro ($674 million) cash deal to buy French delivery platform Mondial Relay as it looks to expand its international presence amid a booming e-commerce market.

InPost has offered to buy Mondial Relay, which operates about 16,000 pick-up drop-off (PUDO) points in places such as supermarkets, flower shops or laundries, from Germany’s Otto Group, in what would be its first significant international deal.

“As we outlined during our recent IPO, international expansion is a key element of InPost’s growth strategy and Mondial Relay would give us an immediate footprint in one of Europe’s largest e-commerce markets,” CEO Rafal Brzoska said.

The company’s shares were up 5% as of 0905 GMT.

InPost, which owns over 12,000 parcel lockers in Poland and Britain, said the proposed acquisition would almost double its revenue to 4.5 billion zlotys and immediately add to its earnings.

See link for more details: https://www.reuters.com/article/mondial-relay-ma-inpost-idUSL1N2LD0AZ

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