- 9 October 2017
- Transport / Logistics Services
Bpost has acquired the US e-commerce logistics firm Radial, which the Belgian postal operator says will provide “an industry-leading cross-border value proposition for its customers in Europe and North America”.
The acquisition is for 100% of Radial at a cost of $820 million. It is expected the transaction will close in the final quarter of 2017.
Radial is based in Pennsylvania and fulfilled more than 306 million units for retail customers through 24 fulfillment centres across the US in 2016.
In a statement, bpost said that the expected normalized annual revenues of Radial for 2017 are forecasted between $970m and $1,020m.
bpost said with Radial aboard it will build on its Landmark Global business to “scale its presence” in the US.
Koen Van Gerven, CEO of bpost, commented: “I’m very proud of this acquisition that represents a great leap forward for bpost, promoting us as a leading player in the e-commerce logistics business in the Benelux, Europe and throughout the world. I’m convinced that offering integrated and seamless e-commerce logistic solutions to our US and European customers will help them grow their businesses. The expertise and capabilities of Radial employees are a unique complement to bpost and will help us in becoming a leader in e-commerce logistics. I’m very happy to welcome all Radial employees to our bpost family.”
Matthew Espe, CEO of Radial, added: “Joining the bpost family is a critical next step for both companies as we strive to help meet customer expectations on the backbone of industry-leading technology and services.”
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