FedEx Leads €7.8 Billion Takeover of Europe's Parcel Locker King InPost
February 9, 2026 · by Fintool Agent
Fedex-0.21% is making its biggest bet on European e-commerce, joining forces with private equity giant Advent International to acquire Poland's InPost—the operator of 61,000 automated parcel lockers across Europe—for €7.8 billion ($9.2 billion) in an all-cash deal that values the company at a 50% premium to its early January share price.
FedEx shares surged to a 52-week high of $370.86 on the news, up 1.4% to $369.23, as investors cheered the strategic acquisition that gives the logistics giant instant access to Europe's fastest-growing delivery channel.
The Deal Structure
The consortium has offered €15.60 per share for all outstanding InPost shares—a 50% premium to the undisturbed share price on January 2, 2026, and 53% above the three-month volume-weighted average price.
Post-closing, the ownership structure will be:
| Consortium Member | Stake | Role |
|---|---|---|
| Advent International | 37% | Lead private equity sponsor |
| FedEx | 37% | Strategic logistics partner |
| A&R Investments | 16% | Founder Rafał Brzoska's vehicle |
| PPF Group | 10% | Reinvesting investor |
PPF Group, the Czech investment firm that held a 28.75% stake, will tender all its shares and reinvest a portion of proceeds to become a 10% shareholder in the new consortium. The deal already has support from shareholders representing 48% of outstanding shares but requires 80% acceptance to close.
Critically, InPost will retain its brand identity, Polish headquarters, and current management structure with founder and CEO Rafał Brzoska remaining at the helm—a signal that the consortium values the company's operational playbook as much as its physical network.
Ask Fintool AI AgentWhy This Deal Makes Strategic Sense for FedEx
FedEx has long identified Europe as a region with "significant opportunity ahead," with CEO Raj Subramaniam noting in the company's December earnings call that "we continue to prioritize improving our operations and performance in Europe, where the team is making good progress."
The InPost acquisition addresses the most vexing challenge in e-commerce logistics: last-mile delivery. Traditional home delivery attempts fail at alarming rates—requiring repeat trips that erode margins and frustrate consumers. Parcel lockers fundamentally change this equation by shifting the delivery endpoint to a controlled, always-accessible location.
InPost's numbers tell the story:
| Metric | 2025 Performance |
|---|---|
| Total Parcels Delivered | 1.4 billion (+25% YoY) |
| Q3 Revenue | PLN 3.8 billion (+49% YoY) |
| Q3 Adj. EBITDA Margin | 28% |
| Automated Parcel Machines | 61,000+ across 9 countries |
| Poland Market Share | 70% |
| UK Lockers | 13,700+ (targeting 30,000) |
For FedEx, this acquisition provides a ready-made solution to a problem the company has acknowledged: capturing profitable growth in the European B2C market. The company's recent quarterly results showed 8% revenue growth at FedEx Express, with U.S. domestic strength partially offsetting international export pressure from trade policy uncertainty.
Europe's Out-of-Home Revolution
The strategic timing is no accident. Out-of-home delivery is transforming European e-commerce logistics. By the end of 2023, Europe had more than 155,000 parcel lockers in operation—a 29% jump in a single year—with analysts forecasting 11-12% annual growth through 2027.
The market dynamics are compelling:
- Consumer preference: 44% of European shoppers choose out-of-home delivery when offered
- Cost advantage: Parcel lockers reduce last-mile delivery costs by eliminating failed delivery attempts
- Environmental benefit: Consolidated pickup points reduce delivery vehicle trips
- Market size: European last-mile delivery market expected to reach $85 billion by 2033, growing at 9.3% CAGR from $38 billion in 2024
InPost has positioned itself at the center of this transformation. Founded in 1999 by Rafał Brzoska in Poland, the company pioneered the "Paczkomat"—its proprietary parcel machine design that has become ubiquitous across the country. In Poland alone, the company operates 27,600 machines serving over 20 million users, with 87% of Polish consumers choosing InPost lockers as their preferred delivery method.
The company's aggressive expansion beyond Poland has been fueled by strategic acquisitions:
- Mondial Relay (€513 million): Expanded French and Benelux footprint
- Yodel (UK, April 2025): Nearly tripled UK volumes with 700+ B2C merchant relationships
- Sending (Spain, July 2025): Strengthened Iberian to-door delivery capabilities
Ask Fintool AI AgentFedEx's Financial Position
FedEx enters this deal from a position of operational and financial strength. The company's Q2 FY2026 results showed adjusted EPS growth of 19% year-over-year despite multiple headwinds, with management crediting its ongoing transformation initiatives for the resilience.
| FedEx Metric | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Revenue | $22.2B | $22.2B | $22.2B | $23.5B |
| Net Income | $909M | $1.65B | $824M | $956M |
| Cash & Equivalents | $5.1B | $5.5B | $6.2B | $6.6B |
The consortium structure—with Advent and FedEx each taking 37% stakes—suggests FedEx won't be shouldering the entire financial burden. FedEx's cash position of $6.6 billion provides ample flexibility, particularly as the company has already committed to $4.5 billion in capital expenditures for FY2026 focused on Network 2.0 initiatives and facility modernization.
The deal also comes as FedEx prepares to spin off FedEx Freight by June 1, 2026—a separation that will further sharpen the company's focus on its express and ground operations where parcel locker integration could prove most valuable.
What to Watch
The transaction is expected to close in the second half of 2026, subject to regulatory approvals and at least 80% of shareholders tendering their shares. Key catalysts include:
Near-term:
- Regulatory review across multiple European jurisdictions
- Shareholder tender acceptance (needs 80%; currently 48% committed)
- FedEx Freight spinoff completion by June 2026
Post-close integration:
- UK network expansion from 14,000 to 30,000 lockers
- Cross-selling opportunities with FedEx's B2B customer base
- Technology integration between FedEx's logistics intelligence platform and InPost's consumer-facing app
For FedEx, the InPost acquisition represents a calculated bet that the future of European e-commerce delivery runs through parcel lockers rather than doorsteps. At nearly $9 billion, it's the kind of transformational deal that will define CEO Raj Subramaniam's tenure—and determine whether FedEx can capture the next wave of European logistics growth before its competitors.
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