Neopost has acquired Parcel Pending, an American parcel locker specialist for more than USD 100 million.
Neopost has made a strategic review of its portfolio of different business activities and, as part of its “Back to Growth” strategic plan, has decided to invest strongly in the fast growing Parcel Locker business, with a focus in the United States. Indeed, parcel lockers are one of the most efficient solutions to solve the issue of the last mile delivery in urban areas.
Parcel Pending, founded by CEO Lori Torres in 2013, is the leading package solution provider for residential, commercial, retail and universities across the United States and Canada.
Parcel Pending employs more than 150 people and has thousands of customers across North America. Revenue in 2018 exceeded USD 30 million.
Lori Torres will remain CEO of Parcel Pending and will lead the Neopost locker initiative in the U.S. As part of the acquisition, Parcel Pending will continue to have their office in Irvine, California.
Neopost CEO, Geoffrey Godet, commented: “Parcel lockers is one of the four selected solutions we want to grow in the future. For Neopost, the acquisition of Parcel Pending is a major step forward in entering the very promising American parcel locker market. We are delighted to welcome Parcel Pending’s passionate team within Neopost. The combination of Neopost and Parcel Pending’s recognised technologies and know-how will enable us to provide state-of-the-art solutions and expand fast in the U.S. market.”
Parcel Pending CEO, Lori Torres, added: “We are excited to join the Neopost Family and leverage their fantastic team and expertise. Neopost was the perfect fit for Parcel Pending, as like us, they are committed to providing world class customer service and innovation to our customers.”