CMS has advised InPost UK Limited (InPost), a subsidiary of InPost S.A., on its acquisition of a 95.5% stake in Judge Logistics Limited (JLL), the parent company of Yodel Delivery Network Limited (Yodel), one of the UK’s largest parcel delivery companies. Under the terms of the transaction, PayPoint retains a minority stake of 4.5%, building on the existing partnership between Yodel and PayPoint and creating a strong future in the Out-of-Home (OOH) space.
InPost is a leading provider of logistics solutions for the European e-commerce industry. The company was founded in Poland in 2006 by Rafał Brzoska and has since expanded its operations across various countries, including the United Kingdom. InPost aims to revolutionise the logistics and e-commerce sectors by offering a convenient, efficient, and environmentally friendly alternative to traditional parcel delivery methods. The acquisition of Yodel further consolidates InPost’s position in the UK. By combining the largest out-of-home delivery network with Yodel’s strong home delivery capabilities, InPost will be able to scale operations significantly, expand its service offerings, and provide greater convenience to retailers and customers.
CMS advised on all legal aspects of the deal. The JLL acquisition was structured as a debt-to-equity conversion, with InPost converting its existing loan to JLL into equity. Until the transaction date, InPost had provided JLL with financing amounting to £106 million in the form of convertible loan notes, which CMS also advised on.
This transaction is a testament to CMS’s full-service offering, with CMS having delivered seamless support across any practice area as required by the deal, and plays to CMS’s strengths and long track record in guiding clients through complex and fast-paced M&A transactions.
CMS Corporate partner Valentina Santambrogio comments: “It has been a pleasure working with the InPost team and we are delighted to have supported InPost on this strategic investment in the UK market. We look forward to witnessing the continued success of InPost as it embarks on this new journey and continues to strengthen its position as one of the UK’s leading delivery companies.”
Hinthepal Shah, General Counsel UK&I at InPost UK, adds: “The CMS team was brilliant. They supported us across all legal aspects of the transaction, demonstrating excellent commercial judgement, dedication and professionalism throughout. They always had someone to assist whatever the workstream and went above and beyond in order to deliver outcomes within timelines.”
The CMS team was led by Valentina Santambrogio and supported by Konrad Rawicz, Ryan Arnott, Diana Pysarenko and Charlotte Harding-Carroll (Corporate); Gillian MacLellan, Eileen MacMahon and Anna Dunn (Employment); Neil Baylis, Emma Waterhouse and Claire Barraclough (Competition); David Bridge and Tara McCarthy (Litigation); Dave Lawson and Harry Wakefield (Real Estate); Preena Gandhi and Adelina Frunza (Tax); Jenny Allan, Thomas Siggers and Charlotte Choules (Banking); Eoin O’Shea and Amy Wilkinson (Anti-Bribery); Rosalind Morgan, Joanna Waddell (EHS); Alan Nelson, Kimberley Cross and Haris Saleem (Commercial, Intellectual Property and Data Protection); and John Morrison (Pensions).
