Polish logistics company InPost S.A. (Euronext Amsterdam:INPST) announced on Thursday that it has acquired 95.5% of Judge Logistics Ltd, the parent company of UK parcel delivery firm Yodel.

This acquisition makes InPost the third-largest agnostic logistics carrier in the UK, increasing its market share to approximately 8%.

Structured as a debt-to-equity conversion, the deal involved the conversion of GBP106m in convertible loan notes previously provided by InPost. PayPoint retains a minority 4.5% stake in Judge Logistics Ltd, continuing its existing partnership with Yodel.

The move expands InPost's UK capabilities by integrating Yodel's home delivery services with its extensive out-of-home (OOH) network, totalling over 18,000 points and 10,000 automated parcel machines. Annual parcel volume is expected to exceed 300 million, supporting over 700 e-commerce retailers.

InPost plans to achieve EBITDA accretion within one year through operational integration and cost efficiencies. The acquisition follows the October 2024 purchase of Menzies Distribution, which secured full control over InPost's UK logistics chain.

The transaction diversifies InPost's revenue by geography and segment, with the UK now contributing approximately 30% to group revenue. This strategic move positions InPost to deliver next-day to-door services under a unified brand while accelerating long-term growth in a key European market.

(EUR1=GBP0.86)