Polish parcel delivery giant InPost has confirmed its acquisition of Yodel, which makes it one of the largest independent logistics players in the UK e-commerce market, after Amazon, Royal Mail and Evri.
This is the latest development in InPost’s rapid expansion since its launch in 1999.
The company provides delivery services through its network of around 47,000 automated parcel machines (APMs) and almost 35,000 pick-up drop-off points (PUDO) in nine countries across Europe, as well as to-door courier and fulfilment services to e-commerce merchants.
The move builds on the partnership established between the two companies in October 2024, when Yodel began providing last-mile services through InPost’s locker-to-door service.
Announcing the “game-changing” deal, InPost said the move “dramatically accelerates growth and redefines delivery in the UK by seamlessly integrating out-of-home and to-door solutions under one powerful brand”.
By combining InPost’s out-of-home (OOH) delivery network with Yodel’s home delivery services, InPost said it aims to scale its operations significantly, expand its service offering, and provide greater convenience to retailers and customers.
Following the transaction, InPost UK’s market share increases to around 8%, positioning it as the third agnostic e-commerce logistics carrier in the UK.
This latest purchase follows InPost’s acquisition of Menzies Distribution in October 2024, which gave InPost full control over its entire logistics process in the UK.
Under the terms of the transaction, InPost has acquired 95.5% of Judge Logistics’ share capital (JLL), parent company of Yodel Delivery Network, with PayPoint retaining a minority stake of 4.5%.
The JLL acquisition was structured as a debt-to-equity conversion, with InPost converting its existing loan to JLL into equity.
Until the transaction date, InPost had provided JLL with financing amounting to £106m in the form of convertible loan notes.
InPost said it has a clear plan on the integration of Yodel with the aim of making the deal EBITDA accretive within one year.
It added that the acquisition will allow the company to achieve several key strategic objectives, including:
• Accelerated UK growth and market share expansion: Rapid increase to approximately 300 million+ parcels annually, immediately expanding its merchant base to over 700+ e-commerce stores, and approximately 8% market share, with 10,000 APMs totalling over 18,000 OOH points.
• Unique offering for merchants: through next-day to door delivery combined with the extensive out-of-home network resulting in one InPost brand delivering a comprehensive service to the UK market.
• Diversification benefits: diversifies InPost’s volume by segment and geographically, with the UK contributing approximately 30% to InPost Group’s revenue.
• Attractive deal economics: The acquisition presents a strategically compelling opportunity taking into account the size of investment and market share gained, enabling InPost’s long-term growth and strengthening its position in the UK market.
Rafał Brzoska, InPost founder, and chief executive, said: “This acquisition marks a pivotal milestone in InPost’s journey to revolutionise the UK delivery market as well as the Group’s pan-European presence.
“We have just fast-forwarded five years of organic expansion in the UK and it is a clear reflection of our long-term commitment to this market, a market where we see enormous opportunity for growth.
“Our logistics model has transformed delivery in other European markets, and with this acquisition, we are now well positioned to do the same here.”
Neil Kuschel, InPost UK chief executive added: “This acquisition is a game-changer for InPost’s operations in the UK.
“Combining doorstep deliveries with our unrivalled locker network, we are reshaping the future of parcel delivery.
“We will be able to provide customers and e-commerce retailers with the reliability, flexibility, and efficiency they expect. We’re excited to deliver more for the UK.”
In its first move since the acquisition, InPost has today announced the signing of an eight-country, multi-year delivery contract with second hand retailer Vinted.
Under the deal, InPost will handle Vinted parcels across the UK, Poland, France, Belgium, the Netherlands, Italy, Portugal and Spain, including services through its Mondial Relay unit, until the end of 2027.
Sellers of second-hand items on Vinted’s platform will gain a delivery option using InPost’s convenient network of more than 82,000 lockers and PUDO points.
InPost said the agreement will provide significant volume from the millions of Vinted members in Europe and beyond, bringing the company closer to its goal of becoming Europe’s largest logistics operator.
Rafał Brzoska commented: “This partnership is also a testament to InPost’s strategic vision of becoming the number one player in European logistics.
“Commercial wins, such as the contract with Vinted, are key to InPost’s strategy and help us further strengthen international presence, including in the UK, where we recently elevated our business through the acquisition of Yodel.”
Vytautas Atkočaitis, Vinted Go vice president, added: “We are excited to continue our collaboration with InPost and Mondial Relay across multiple European markets. This partnership aligns perfectly with our commitment to providing our users with efficient, affordable delivery solutions.”
InPost Group had a record year in 2024 in terms of revenue, which increased by 23.5% year on year to PLN 10.9bn (£2.18bn), and adjusted EBITDA, reached PLN 3.6bn (£0.72bn) after an increase of 33.5% year-on-year.
Parcel volumes for 2024 amounted to 1.1 billion (+22% year-on-year). During the year InPost almost doubled its EPS result and expanded its OOH network across Europe, installing more than 11,500 new APMs.
