InPost acquires Yodel to become third biggest UK courier

Polish logistics company InPost has acquired UK delivery company Yodel, making it the third-largest agnostic logistics player in the country. The move is set to redefine delivery in the UK by integrating out-of-home (OOH) and to-door solutions under one brand. By combining the largest OOH delivery network with Yodel's home delivery capabilities, InPost will scale its operations significantly, expand its service offering, and provide greater convenience to retailers and customers. The transaction follows the successful 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 Ltd share capital (JLL), parent company of Yodel Delivery Network, with PayPoint retaining a minority stake of 4.5%. This builds on the existing partnership between Yodel and PayPoint. 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 has a clear plan on the integration of Yodel and its goal for this deal is to be EBITDA accretive within one year. The acquisition builds on the partnership established between InPost and Yodel in October 2024, when Yodel began providing last-mile services through InPost’s “locker-to-door” service. Furthermore, the acquisition will enable InPost to achieve several key strategic objectives. It will accelerate growth in the UK and expand market share by increasing parcel volume to approximately 300 million annually. This expansion will immediately grow its merchant base to over 700 e-commerce stores and capture around 8% of the market, supported by a network of 10,000 Automated Parcel Machines (APMs) and more than 18,000 out-of-home (OOH) points. The acquisition also brings diversification benefits, broadening InPost’s volume by both segment and geography, with the UK expected to contribute roughly 30% to the group’s total revenue. Rafał Brzoska, founder and CEO of InPost Group, said: “This acquisition marks a pivotal milestone in InPost's journey to revolutionise the UK delivery market as well as the Group pan-European presence. We have just fast-forwarded 5 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, CEO of InPost UK, 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.”