PayPoint takes up 100% ownership of Collect+

By acquiring the 50% of shares owned by co-founders Yodel, PayPoint have taken full ownership of pickup/drop-off network Collect+.

Yodel has committed to a multi-year deal to be a carrier for Collect+, reaffirming the long-term partnership between the two companies.

Collect+ was jointly founded by Yodel and PayPoint in 2009 to provide a simple, local and accessible service for people to send parcels, return parcels or click and collect.

One of the aims in PayPoint taking full ownership is continued growth of Collect+ and to improve on already strong relationship with its carriers.

Nick Wiles, Executive Chairman of PayPoint, said: “This is an extremely important moment for Collect+ which has grown substantially to become the UK’s biggest parcel network working with major carriers such as DHL, FedEx and Yodel and retail giants such as Amazon and eBay.

“We look forward to continuing to work closely with Yodel on behalf of our retailers and the millions of customers who rely on the Collect+ service.”

Wiles concluded, “There is substantial opportunity for further expansion, both in terms of the partners we work with and the numbers of outlets we have. We are very excited about the future of Collect+.”