Logistics and e-commerce specialists InPost has taken a bold leap forward in the UK market. With the acquisition of Yodel – one of the UK’s largest parcel delivery companies – InPost becomes the third-largest agnostic logistics player in the country. The move should dramatically accelerate growth and redefine UK delivery by integrating out-of-home and to-door solutions under one brand.
The acquisition further consolidates InPost’s leading position in the UK e-commerce delivery market. By combining the largest out-of-home ("OOH") delivery network with Yodel's strong home delivery capabilities, InPost will 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 eight per cent and positions InPost as the third agnostic e-commerce logistics carrier in the UK. This 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 per cent of Judge Logistics Ltd share capital (“JLL”), parent company of Yodel Delivery Network (“Yodel”), with PayPoint retaining a minority stake of 4.5 per cent. This builds on the existing partnership between Yodel and PayPoint – creating a strong future in the OOH space.
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 £106 million 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 allow InPost to achieve several key strategic objectives:
- Accelerated UK growth and market share expansion: Rapid increase to approximately 300 million+ parcels annually, immediately expanding its merchant base to over 500+ e-commerce stores, and approximately eight per cent 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 outof-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 pert cent 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.
“This acquisition marks a pivotal milestone in InPost's journey to revolutionise the UK delivery market as well as the Group pan-European presence,” said Rafał Brzoska, Founder, and CEO of InPost Group. “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, CEO of InPost UK said: “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.”
The buyout of delivery giant Yodel by InPost was welcomed by the GMB Union.
“Yodel has endured a tumultuous 12 months," said Gill Ogilvie, GMB National Lead Organiser.
“GMB welcome’s today’s news which will secure workers' future for the long term. The investment will help put Yodel back into the game as a leading competitor in the UK market and we look forward to a positive working relationship."
