Neopost Acquires Parcel Pending, Making a Significant Entry into the U.S. Parcel Locker Market
Wednesday, Jan 23rd 2019
Neopost, a global leader in mail solutions, business process automation, customer experience management and parcel locker solutions, today announced the acquisition of Parcel Pending, a leader in the American parcel locker market.
Neopost has made a strategic review of its portfolio of different business activities and, as part of its “Back to Growth” strategic plan announced today, has decided to invest strongly in the nascent and fast growing Parcel Locker business, with a focus in the United States. Indeed, parcel lockers are one of the most efficient solutions to solve the issue of the last mile delivery in urban areas.
Neopost views the U.S. market as a key geography. Neopost has the #3 worldwide installed base of parcel lockers with approximately 4,400 units mainly in Japan and France. The U.S. is estimated to account for 40% of the worldwide market excluding China.
Parcel Pending, founded by CEO Lori Torres in 2013, is the leading package solution provider for residential, commercial, retail and universities across the United States and Canada. Parcel Pending employs more than 150 people and has thousands of customers across North America. Revenue in 2018 exceeded USD 30m. The acquisition price is more than USD 100m. Lori Torres will remain CEO of Parcel Pending and will lead the Neopost locker initiative in the U.S. As part of the acquisition, Parcel Pending will continue to have their office in Irvine, California.
Neopost CEO, Geoffrey Godet, commented: "Parcel lockers is one of the four selected solutions we want to grow in the future. For Neopost, the acquisition of Parcel Pending is a major step forward in entering the very promising American parcel locker market. We are delighted to welcome Parcel Pending’s passionate team within Neopost. The combination of Neopost and Parcel Pending’s recognized technologies and know-how will enable us to provide state-of-the-art solutions and expand fast in the U.S. market.”
Parcel Pending CEO, Lori Torres, added: “We are excited to join the Neopost Family and leverage their fantastic team and expertise. Neopost was the perfect fit for Parcel Pending, as like us, they are committed to providing world class customer service and innovation to our customers.”
Neopost is a global leader in mail solutions, business process management, customer experience management and parcel locker solutions. Its mission is to deliver reliable solutions that create relevant and personalized interactions. With a direct presence in 29 countries and more than 5,800 employees, Neopost reported annual sales of €1.1 billion in 2017. Its products and services are sold in more than 90 countries. Neopost is listed in compartment A of Euronext Paris and belongs to the SBF 120 index.