FedEx-led €7.8bn takeover of Polish delivery giant InPost wins EU approval

The European Commission has approved a €7.8 billion takeover of Polish delivery services company InPost by a consortium led by American logistics giant FedEx. The deal, announced in February, allows the consortium, including FedEx, private equity firms Advent and A&R, and Czech investment fund PPF, to acquire all of InPost's shares at a price of €15.60 per share. The approval comes after months of regulatory review, including antitrust assessments in both the European Union and Vietnam. The acquisition process initially concluded on 27 July, but was postponed to 18 September following ongoing antitrust investigations in the EU and Vietnam. InPost confirmed on Tuesday that it had received unconditional approval from the European Commission, though it is still waiting for a final decision from the Vietnam Competition Commission. The company expects a ruling by 8 September. While InPost does not operate directly in Vietnam, FedEx has maintained a presence in the country since 1994. The consortium consists of FedEx, Advent, A&R, and PPF. Under the terms of the agreement, FedEx and Advent will each hold 37% of InPost, while A&R will own 16% and PPF 10%. This marks a shift in ownership structure, as current shareholders include PPF, which currently holds 28.75%, and A&R, which owns 12.49%. Advent holds 6.5% of the company prior to the transaction. Founder and CEO Rafał Brzoska will remain with the company, retaining a significant stake through A&R. InPost will keep its brand identity, headquarters in Poland, and operational footprint across multiple markets. The company operates in France, Spain, the UK, Portugal, Italy, and the Benelux region, with plans to expand further. InPost has gained prominence through its innovative use of parcel lockers, starting in Poland and expanding across Western Europe. In the UK, the company has established a vast network of over 14,000 parcel lockers, including locations within British Post Office branches. Its success has attracted attention from international leaders, including French President Emmanuel Macron, who recently praised InPost’s investment in France. Through its subsidiary Mondial Relay, InPost operates more than 9,000 parcel lockers in France and plans to invest an additional €500 million to strengthen its position. Financial performance for InPost in the first quarter of 2026 showed strong growth, with revenue rising 31% year-on-year to 3.9 billion zloty. Revenue increases were particularly notable in the UK, where it grew by 121%, and in the Eurozone, where it rose 28%. Growth in Poland itself was more modest, increasing by 9%. Despite these gains, the company’s EBITDA, a key indicator of operating profitability, declined by 4% to 902 million zloty. The approval of the takeover represents a strategic move for FedEx, which aims to bolster its global logistics capabilities by integrating InPost’s extensive European infrastructure. With InPost’s established presence and technological innovations, the merger is expected to enhance FedEx’s ability to serve customers across multiple regions. The deal underscores the growing importance of e-commerce logistics and the role of parcel locker networks in modern delivery systems. As the final approvals from Vietnam approach, the completion of the transaction appears increasingly likely.