Today after receiving approval from the Polish Competition Council (UOKiK), DPD Polska Sp. z o.o. signed a final agreement to purchase 100% of the shares of the courier company Siodemka S.A. from Abris Capital Partners.
A preliminary agreement was entered into in April this year between Abris Capital Partners (‘Abris’) and DPD Polska Sp. z o.o. (‘DPD’) enabling DPD, subject to certain conditions, to acquire 100% of the shares of Siodemka S.A.. The transaction required, inter alia, the approval of the President of the Competition Authority and this was granted on October 1st. The investigation conducted by the Polish Competition Council determined that the transaction will not have a negative impact on competition and consumer welfare.
Both companies are currently leading businesses in the courier express parcels market in Poland. Siodemka is headquartered in Warsaw and has been owned by Abris since 2011; DPD is a wholly-owned subsidiary of the French express delivery business, GeoPost. Following the transaction, the new combined entity will control approximately 20% of the market for the express delivery of parcels and packages in Poland.
- A much larger scale of operations means more opportunities and advantages for our customers. Siodemka has modern IT solutions, while DPD has extensive experience in the domestic market, an international network and infrastructure. This combination will provide our customers with a competitive advantage and a high quality of service - says Rafal Nawloka, CEO of DPD Polska.
- Over 16 years of operating in the Polish courier segment, we have created an innovation leader and a strong organization with large customer recognition. Today, Siodemka is being acquired by an industry player, one of the leaders in the European market for courier services - says Jaroslaw Sliwa, CEO of Siodemka.
- In 2011, when we bought Siodemka, we trusted the vision for development presented by its management. Today, we can confidently say that that our trust paid off. The investment in Siodemka has proven to be one of our best performing commitments. I am convinced that the future of Siodemka will be in good hands; the combination of competencies of two such strong companies will create unique value in the market for courier services - says Pawel Gierynski partner Abris Capital Partners.
Siodemka, as a consequence of its strategy of focusing principally on individual e-commerce clients, has enjoyed strong year-on-year improvement in its financial results, and over the past three years has been able to more than double its sales.