InPost to take full control of UK distribution group Menzies

InPost, the operator of tens of thousands of parcel delivery lockers across Europe, is closing in on a deal to take full ownership of Menzies Distribution Group, the British logistics company.

Sky News has learnt that InPost is in very advanced talks to acquire the 70% shareholding in Menzies that it does not already own.

Sources said 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 Endless, the Leeds-based private equity investor.

InPost, which is listed in Amsterdam, has seen its valuation soar 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.

Advent International, the private equity firm, took InPost public in early 2021.

InPost declined to comment, while Endless did not respond to a request for comment.