BRUSSELS, Nov. 16, 2017 /PRNewswire/ -- bpost, Belgium's leading postal operator, acquired 100 percent of the shares of Radial after having obtained all necessary approvals from the relevant competition authorities.
In finalizing this acquisition, bpost takes a great leap forward in becoming a leading player in the e-commerce logistics business in the Benelux, Europe, North America and throughout the world.
The acquisition of Radial, a leading provider of integrated e-commerce logistics, perfectly fits within bpost's growth strategy. It allows bpost to scale its existing US presence and expand its product offering into value-added activities that cover the entire value chain in e-commerce logistics. By entering the e-commerce logistics market, bpost can tap into a larger and more attractive profit pool while benefitting from the high-growth potential that global e-commerce offers.
In addition to gaining an important foothold in the US, Radial, together with Landmark Global, provides a solid platform to offer an industry-leading, cross-border value proposition to our customers in Europe and North America. Radial brings instant scale, credibility and a distinctive set of expertise and capabilities from the advanced US e-commerce market. This will be very valuable in developing end-to-end e-commerce logistics solutions in the Benelux and Europe.
Radial is headquartered in King of Prussia, Pennsylvania, and fulfilled over 306 million units for its retail customers across 24 fulfillment centers in 2016. The company also offers integrated services such as omnichannel technology; payment, tax and fraud protection services; fulfillment; last-mile delivery; and customer care for brands and retailers. With these offerings, Radial is largely ahead of its peers in terms of scale, geographic coverage and breadth of services.
The expected normalized annual revenues of Radial for 2017 are forecasted between $970 million and $1.02 billion. The expected normalized EBITDA is forecasted to be between $65 and $70 million in 2017. The acquisition of Radial will be fully consolidated in bpost's accounts as of November 16, 2017.
bpost Parcels & Logistics Americas will be led by Pierre Winand, who will also continue as President Americas of Landmark Global. Former Radial CEO Matt Espe will step down effective immediately.
Contact bpost
Baudouin de Hepcée (journalists and investors): +32 (0)476/49 69 58
Barbara Van Speybroeck (journalists only): +32 (0)476/51 79 29
[email protected]
Saskia Dheedene (investors only): +32 (0)2/276 76 43
[email protected]
Contact Radial
Sherrie Centrella (US journalists and analysts): 610 205 3499
[email protected]
About bpost
bpost is a leading postal operator in Belgium, offering a wide range of products and services in the mail and parcel related businesses. bpost's core business is the collection, sorting, transportation and delivery of letters and parcels. Every day bpost staff delivers 8.6 million letters and 175,000 parcels to 4.7 million households in Belgium. bpost and its subsidiaries also develop activities relating to the proximity & convenience business. We are "Always on the move" to bring our clients closer and to make their lives easier. Since 2012, bpost is operating its international parcels activities under the name "Landmark Global, a bpost company." bpost is listed on Euronext Brussels. In 2016, bpost generated revenues of over 2.4 billion euros.
About Radial
Radial is a leading player in omnichannel commerce technology and operations, enabling brands and retailers to profitably exceed retail customer expectations. Radial's technical, powerful omnichannel solutions connect supply and demand through efficient fulfillment and transportation options, intelligent fraud protection, payments, and tax systems, and personalized customer care services. Hundreds of retailers and brands confidently partner with Radial to simplify their post-click commerce and improve their customer experiences. Radial brings flexibility and scalability to their supply chains and optimizes how, when and where orders go from desire to delivery. Learn how we work with you at www.radial.com.
SOURCE Radial
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