09-04-2024
bpostgroup intends to reinforce its position as a regional leader in parcelized logistics in Europe and cross-border services on an international level. The group broadens its portfolio, focusing on better integration and more synergies and developing new services in Belgium, in addition to the last-mile-delivery activities (mail, press, parcels). Today bpostgroup signed an agreement in order to acquire 100% of Staci's shares from Ardian and other minority shareholders, with a view to position itself as a leader in e-commerce and omnichannel logistics and fulfillment in Europe.
Unique opportunity is an accelerator for bpostgroup
The agreement aims to a significantly upgrade bpostgroup’s portfolio in Europe. Through the contemplated acquisition of Staci, bpostgroup will gear up its strategy to strengthen its B2B offering and will create more synergy potential within the group. bpostgroup will gain immediate access to knowledge and technology of B2B, e-commerce and brick-and-mortar businesses. The new collaboration will bring talents and capabilities to the group, and will also contribute to the ongoing transformation of our Belgian activities.
Chris Peeters, CEO bpostgroup, says: "This transaction will drive us forward in bringing our strategy to life. It facilitates synergies, enriches our portfolio, and harmonizes with our existing capabilities. The contemplated acquisition of Staci is fully in line with the strategic choices bpostgroup had already made and presents the potential for a robust B2B-service offering. Also, bpost in Belgium can expect extra volumes in its last-mile-delivery network. Moreover, this transaction promises growth, sustainable employment and enduring value creation.”
With this contemplated acquisition bpostgroup will refocus on strengthening its anchorage in Northwest Europe and Belgium and will invest in the development of the growing B2B logistics business.
Staci’s services - well-established in various European countries, partially in Asia, and in the United States - will complement those of bpostgroup, namely the subsidiaries Active Ants and Radial, and amplify their service offering. Staci's broad customer base is diverse and covers, on top of e-commerce customers, also clients active in fast moving consumer goods, retail, laboratories, health, cosmetics, industry, energy, banking and insurance, hospitality, private or public services, and is focused on the parcelization trend of the business logistics (B2B). The contemplated acquisition will allow synergies in the short term and offers the opportunity to grow further and to leverage newly acquired capabilities to support the bpostgroup growth strategy, including in Belgium.
It is intended that the management team and all employees of Staci will remain on board, so that the group can continue to rely on their expertise and experience. After the transaction closing, it is expected that Staci CEO Thomas Mortier will become member of the executive committee of bpostgroup and will lead the new business unit 3PL.
Chris Peeters comments: “I am convinced that with the contemplated acquisition of Staci, we will be ready for robust growth. The B2B logistics sector, including in Belgium, holds immense potential. Our collaboration with Staci will bring us expertise, innovation power, and customer insights, enabling us to craft a complete customer-centric offering tailored to their needs. With this strategic change, we aim at possessing the assets, potential, and ambition to excel as an international logistics player, securing a sustainable future for our company and employees.”
Staci reported normalized annual revenues of €771 million for 2023, while the pre-IFRS 16 EBITDA stood at €110 million.
Under the terms of the proposed transaction, bpost would acquire 100% of the shares of Staci from Ardian and other minority shareholders for an Enterprise Value of €1.3 billion (pre-IFRS 16). bpostgroup plans to finance the transaction by using a bridge financing upon closing and a part of its available cash. The transaction is subject to prior communication and consultation with the relevant employee representatives, and is expected to close in September / October, following receipt of regulatory approvals1.
bpostgroup’s management will hold an analyst call on Monday, April 8th, at 10:00 CET. The presentation and the link to the webcast will be made available on our corporate website https://bpostgroup.com/investors/results-reports-presentations/presentations.
1 French law mandates that prior to making a binding decision to sell, sellers must conduct consultations with the works council and provide relevant information to employees.
Source: bpostgroup