Evri owner plans offloading business in £2bn deal
In 2022, the group extracted a £762m dividend
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Evri owner Advent International is reportedly considering offloading the business for £2bn, according to The Mail.
The report stated that Advent International is in talks with advisers from investment bank Rothschild to explore options for the company, including a potential sale.
Advent International acquired a 75% stake in Evri, formerly Hermes UK, in 2020 and loaded the business with more than £1bn in debt.
The remaining 25% of the business is owned by German mail order group Otto.
In 2022, the group extracted a £762m dividend.
Additionally, The Mail on Sunday revealed that Advent was also preparing to sell off the last remnants of UK defence and aerospace group Cobham.
The delivery group’s revenues for the year to February 2023 were flat on the year before at £1.46bn, while the company swung to a bottom line loss of £77m.
Retail Sector has contacted Advent International for comment.
