Parcel locker firm InPost is set to take control of delivery provider Yodel, The Times has reported.
The Times reported that InPost may reveal details of a “strategic investment” when it announces its annual results on 28 March.
Yodel is reportedly losing an estimated £1m a week, with InPost said to have invested £35m into the provider since last autumn to keep it afloat. according to City sources. In exchange for the cash injection, InPost is understood to have an option to buy Yodel, which can be triggered next month.
Yodel removed from stores not processing enough parcels
A formal takeover is being prepared for early April, although it has yet to be finalised, potentially delaying the official announcement. InPost operates across 9,200 locations in Britain.
Yodel was acquired by YDLGP in February 2024 in a move believed to have saved the company. However, the deal later collapsed, prompting Yodel’s chief executive, Mike Hancox, to lead a management buyout with support from a consortium of investors, including PayPoint and Independent Growth Finance.
Despite the buyout, InPost entered into a partnership with Yodel in November. Yodel has also faced operational challenges, with reports in December indicating that due to driver shortages and capacity constraints, it was forced to divert business to rival delivery firms.
The prospective acquisition of Yodel is complicated by a legal dispute over its ownership, stemming from its previous acquisition by YDLGP, which led to a High Court case.
Better Retailing approached Yodel and InPost for comment, with the latter declining to do so.
Read more Update: Yodel averts collapse with buyer, saving store footfall and parcel sales
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