China’s JD.com among possible bidders for British parcel company Evri
This comes after the e-commerce giant decided against making an offer for British electrical group Currys in February
CHINESE online retailer JD.com has emerged as one of several companies exploring a potential bid for British parcel delivery company Evri, two people familiar with the matter said.
Reuters reported earlier this year that the owner of Evri was working with advisers on options, including a potential sale of the business, which could be valued at around £2 billion (S$3.4 billion) including debt.
The Chinese company is through to the second stage of bidding, after submitting a non-binding offer last month, sources said.
Other potential bidders include Polish parcel locker firm InPost and Chinese e-commerce giant Alibaba Group’s logistics arm, Cainiao.
The companies’ interest may or may not result in a final offer, one of the sources cautioned, who requested anonymity as the matter is confidential.
Private equity fund Advent International owns a 75 per cent stake in Evri, while German mail order company Otto Group holds the remainder of the business.
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Evri referred requests for comment to Advent, which declined to do so. Otto Group similarly declined to comment.
Alibaba and JD.com did not respond to a request for comment as well. InPost – in which Advent has a 15 per cent stake, as showed data from the London Stock Exchange Group – declined to comment.
JD.com’s interest in Evri comes after it considered bidding for British electrical group Currys in February, ultimately deciding not to make an offer.
The group, which operates a logistics arm via JD Logistics, already has a partnership with Evri that aims to give European brands greater access to China.
The sale of Evri comes as the Royal Mail owner, International Distribution Services, is in the process of being taken private by Czech billionaire Daniel Kretinsky.
Apollo Global Management – previously reported as a potential bidder for Evri – is also through to the second stage of bidding, one of the sources added. Apollo Global declined to comment.
Evri was previously known as Hermes before Advent took a majority stake in the UK business in 2020, as well as a 25 per cent stake in Hermes Germany from Otto Group. Hermes UK became Evri under Advent’s ownership in 2022. REUTERS
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