Leeds-based Evri is to be acquired by Apollo Global Management, in a deal worth £2.7bn.
Last year Apollo was in discussions to takeover THG plc – but its offer was “firmly rejected” by the ecommerce company’s board.
It will be acquiring Evri from global private equity investor, Advent International, which bought the parcel delivery company in 2020.
Advent stated that since that time it’s invested nearly £200m in the company, including a technology upgrade and a £60m new automated distribution hub in Barnsley – the largest of its kind in Europe.
Over the last 5 years, it has tripled in size, delivering 730m parcels and serving 12m customers a week in the UK. Among these are retail and ecommerce brands such as John Lewis, Shein and Hello Fresh.
“The last five years have seen transformative change in our proposition which has allowed us to take full advantage of the positive trends in our markets,” said Martijn de Lange, CEO of Evri.
“With the support of Advent, the business today is in a strong position and momentum is encouraging. We are very excited to be partnering with Apollo and optimistic for what the future holds.”
Apollo has yet to release a statement about the news, but reports suggest it fought off bids from JD.com, DHL and Platinum Equity.
Advent originally bought the company from German mail order company Otto:
“We would like to thank Advent for the excellent cooperation and are pleased that Evri’s strong foundation created under our joint stewardship sets the basis for a successful future,” said Kay Schiebur, Member of the Executive Board, Otto Group.
