The map of last-mile delivery in Europe is about to be redrawn.
A consortium led by shipping giant FedEx and private equity firm Advent International has agreed to acquire parcel locker company InPost in a deal valuing the enterprise at €7.8 billion ($9.2 billion). This transaction not only marks a major strategic pivot for FedEx in the European market but also returns InPost to private ownership after five volatile years as a public company.
DEAL STRUCTURE & VALUATION Under the announced terms, the offer price is set at €15.60 per share. This represents a premium of approximately 17% over Friday’s closing price. However, market observers were quick to note that this figure remains below InPost’s 2021 IPO price (€16), reflecting the broader valuation reset in the e-commerce sector following the pandemic boom. Following the news, InPost shares in Amsterdam jumped 14%, hitting their highest levels since May 2025.
NEW OWNERSHIP: A STRATEGIC ALLIANCE Unlike a traditional acquisition, InPost will not be fully integrated into FedEx. Instead, it will operate as an independent entity with a specific new shareholder structure:
- FedEx and Advent International: Will each hold a 37% stake, becoming the two largest controlling shareholders.
- A&R (CEO Rafal Brzoska’s vehicle): Will retain 16%, ensuring the continued commitment of the founding team.
- PPF Group: The investment arm of the Czech Kellner family will hold the remaining 10%.
FedEx’s participation as a strategic shareholder—without an operational merger—allows InPost to leverage FedEx’s volume, while FedEx gains immediate access to Europe’s largest automated locker network without having to build it from scratch.
STRATEGY: DELISTING TO ACCELERATE The core objective of taking the company private is to liberate InPost from the pressures of short-term public market reporting. Backed by private capital, InPost plans to aggressively expand its footprint in key markets such as France, Spain, Italy, the UK, and the Benelux region. This is a critical move to compete with DHL and Amazon, particularly following the company’s acquisition of Yodel in the UK last year.
ANALYST VIEW While 48% of shareholders have already irrevocably committed to the deal, the minimum acceptance threshold is set at 80%. Analysts at Erste Group view the price as “moderately attractive,” but Trigon warns that €15.60 might not be compelling enough for minority shareholders, leaving the door open for a potential price bump in the coming weeks. The transaction is expected to close in the second half of this year.