Shares in parcel locker operator InPost surged more than 21% on Tuesday after the company said it had received an indicative proposal for the potential acquisition of all its shares, sparking speculation about a possible takeover of one of Europe’s largest automated delivery networks.
The company did not disclose the identity of the party behind the approach and cautioned that there was no certainty the proposal would lead to a transaction.
The group has also not previously indicated publicly that it was seeking a buyer.
The rally followed an 11% rise in the stock on Monday, extending a sharp rebound after a difficult period for the shares.
InPost lost about 37% of its market value last year and hit a two-year low in November, partly due to concerns that its largest customer in Poland was reducing its reliance on the company for deliveries.
Special committee formed to assess proposal
InPost said it had established a special committee made up of members of its supervisory and management boards to “carefully consider all aspects of a potential transaction”.
The announcement immediately shifted investor focus to the company’s strategic value, particularly its growing presence in the UK and its extensive parcel locker network across Europe.
Analysts said the approach highlights InPost’s appeal as a takeover target following a period of share price weakness that may not fully reflect its long-term growth prospects.
UK expansion strengthens takeover appeal, says analyst
Dan Coatsworth, investment analyst at AJ Bell, said InPost appeared attractive to potential buyers given its increasingly strong position in the UK market.
“InPost has muscled in on the UK delivery market, becoming a courier of choice for many retailers and people using resale platforms like [fashion-sales platform] Vinted. It has positioned itself as a more efficient and convenient alternative to Royal Mail, utilising a growing network of lockers and undercutting the UK rival on home delivery prices,” Coatsworth said.
A key draw for consumers, Coatsworth added, is the ability to send parcels via lockers without printing labels, avoiding queues and the need for a home printer.
In recent years, InPost has expanded through acquisitions, including Menzies Distribution and Yodel, to bolster its UK footprint.
However, Coatsworth noted that the shares have been weighed down by slower parcel volume growth in Poland, competitive and pricing pressures, and a legal dispute with e-commerce group Allegro over delivery agreements.
“While InPost has some issues to resolve, it is a highly attractive takeover target for someone looking to get ahead in the European parcel delivery market,” he concluded.
Ownership structure
InPost’s largest shareholder is Czech investment firm PPF Group, which holds a 28.75% stake.
PPF first invested in the company in 2023, and the fund in May last year said that the group was satisfied with its holding and was not planning a takeover offer.
The company’s founder, Polish billionaire Rafal Brzoska, controls a 12.49% stake through A&R Investments.
InPost operates in nine countries, including Poland, and runs one of Europe’s largest networks of automated parcel machines.
The group delivered 351.5 million parcels in the third quarter, a 34% increase from a year earlier, driven by international expansion.
Growth outlook tempered by investment needs
In November, InPost reported a better-than-expected 24% rise in third-quarter adjusted EBITDA to 1.06 billion zlotys, but it lowered its full-year outlook, citing additional investment in Britain.
The company now expects adjusted EBITDA growth in the mid-teens percentage range in 2025, down from a previous forecast of low to mid-twenties growth.
The post InPost jumps 20% on takeover interest as analysts highlight UK expansion, valuation upside appeared first on Invezz
