Skip to content
Search
AI Powered
Latest Stories

Delivery business Yodel rescued by consortium led by rival Shift

Delivery business Yodel rescued by consortium led by rival Shift
(Photo: LinkedIn/Yodel)

Parcel delivery business Yodel said Tuesday it has been acquired by YDLGP Limited, a newly formed company, for an undisclosed amount.

YDLGP is backed by a consortium of investors including Solano Partners Ltd, an independent boutique investment bank, as well as the leadership team behind Shift, the rapidly growing UK-based logistics platform, including its founder, Jacob Corlett.


The Barclay family, which owned Yodel, has been looking to find a buyer for the struggling business to avoid administration.

One of Britain's biggest parcel delivery groups, with a wide-ranging and growing client base across diverse retail sectors, Yodel makes over 190 million deliveries annually from its 50 sites.

For the year ended 31 December 2023, Yodel generated £561.8 million revenue.

“We’re extremely excited to begin the next chapter of Yodel’s journey, leveraging the scale of our business with the support of new shareholders and the future benefits of the Shift technology platform. Our customers have always been our priority and the transaction announced today allows us to ensure continuity for them, as well as our employees and wider stakeholders,” Mike Hancox, Yodel chief executive, said.

Yodel also announces that its new owner, YDLGP, has agreed terms to acquire the entire issued share capital of Shift, the tech logistics scale up that acquired and relaunched parcel delivery firm Tuffnells in June last year.

Upon completion, the enlarged group will form a ‘super scale’ logistics platform serving both the parcels market through the Yodel business, and larger, irregular dimensions and weights freight through the Tuffnells brand.

Shift’s AI driven technology platform would become the platform that brings automation and efficiency to both businesses, with the Shift leadership team providing significant technology and operational expertise.

Furthermore, the deal and the access to capital it facilitates safeguards thousands of UK jobs, providing surety for drivers, suppliers and customers alike.

Jacob Corlett, Shift chief executive, said: “I am incredibly proud of what we have built at Shift in the last few years, rapidly scaling our tech-logistics platform, and M&A has been a big part of that success. At the heart of this merger is Shift's revolutionary AI-driven technology platform, promising a future where efficiency and automation become the backbone of logistics operations.

“I look forward to working with Mike and the Yodel team, and with the support of YDLGP, continuing our journey building and scaling logistics through technology.”

Yodel has a partnership with PayPoint’s Collect+ network, the leading out of home parcel pick up, drop off and send service.

More for you

Britvic growth in annual revenue and profits

Strong numbers for Britvic

Britvic, the soft drinks manufacturer set to be acquired by Carlsberg, has posted robust annual results after investment in marketing and product innovation helped it maintain demand for its brands.

Over the year to Sept 30, the company’s pre-tax profits climbed 10.5 per cent to £173.2 million despite a £21.3m hit related to the proposed Carlsberg deal. Britvic stated that its growth was driven by both volume and price-mix, with strong demand for brands such as Pepsi, Tango, Lipton, MiWadi and Ballygowan.

Keep ReadingShow less
Met Police identifies four suspects in Post Office Horizon scandal

Met Police identifies four suspects in Post Office Horizon scandal

The Metropolitan Police has identified two new suspects in its investigation into possible criminal offences as part of the Post Office Horizon scandal. This takes the total number of individuals to four as the force also revealed it believes more suspects will be identified as the inquiry progresses.

Scotland Yard said members of the investigation team met with Sir Alan Bates, the leading Post Office campaigner, and fellow victims to update them on the development.

Keep ReadingShow less
Discover Britain's top hotspots for independent shops

(Photo by Chris J Ratcliffe/Getty Images)

Discover Britain's top hotspots for independent shops

New research by American Express Shop Small reveals the nation’s top 10 hotspots for independent shops, showcasing the small businesses and the valuable role they plan in their local communities.

American Express partnered with retail experts GlobalData to identify the top high streets for independent shops through ranking factors such as the number of independent outlets, variety of business types, and vibrancy of the high street.

Keep ReadingShow less
'Walkable high streets boost economy'
(Photo by Christopher Furlong/Getty Images)
Getty Images

'Walkable high streets boost economy'

Shoppers who walk and wheel spend more than those arriving by car, states a recent report, demonstrating the significant economic and social benefits of investing in walkable town centres, challenging traditional views on urban accessibility.

The findings published in third edition of "The Pedestrian Pound Report", recently published by Living Streets, the UK charity for everyday walking, come at a critical juncture for British high streets, with a record number of retail failures in 2022 and a vacancy rate of nearly one in seven by the end of 2023.

Keep ReadingShow less
Yvette Cooper

Home secretary Yvette Cooper speaking at the annual conference hosted by the NPCC and APCC on 19 November 2024

Photo: GOV.UK

Home secretary pledges to restore neighbourhood policing

Home secretary Yvette Cooper has announced plans to rebuild neighbourhood policing and combat surging shop theft as part of an ambitious programme of reform to policing.

In her first major speech at the annual conference hosted by the National Police Chiefs’ Council and Association of Police and Crime Commissioners on Tuesday, Cooper highlighted four of the key areas for reform: neighbourhood policing, police performance, structures and capabilities, crime prevention.

Keep ReadingShow less