InPost in advanced talks to buy remaining 70% of Menzies - report
Logistics firm InPost is reportedly closing in on a deal to take full ownership of Menzies Distribution Group.
According to Sky News, InPost is in very advanced talks to acquire the 70% shareholding in Menzies that it does not already own.
Sources told Sky that a deal - the value of which could not be ascertained on Monday - was likely to be announced this week.
InPost, which is technically headquartered in Luxembourg but generates the largest share of its profit in Poland, bought a 30% stake in Menzies in July last year for £49.3m. Under that deal, it had an option to buy the rest of the company at any point in the next three years.
Other shareholders in Menzies include Leeds-based private equity investor Endless.
InPost, which is listed in Amsterdam, has seen its valuation rise to nearly €9bn over the last 12 months on the back of soaring demand.
It has rapidly established itself as one of Europe's largest 'last-mile solutions' operators.
PE firm Advent International took InPost public in early 2021.
InPost declined to comment to Sky, while Endless did not respond to a request for comment.