PARIS, FRANCE: ID Logistics, one of the European leaders in contract logistics, announced the acquisition of 100% of Spedimex, a major player in contract logistics in Poland, with strong expertise in the fashion and e-commerce sectors.

The transaction is based on an enterprise value of PLN 350 million (€74 million) and will be paid 70% in new ID Logistics Group shares and 30% in cash. These payment terms allow ID Logistics to maintain a solid financial structure post-acquisition, with a debt ratio as of December 31, 2022 unchanged at 1.9x the EBITDA pre-IFRS 16.

Spedimex is one of main independent players in contract logistics in Poland. The company was founded in 1993 by the Bąk family, of which Marcin Bąk is today the main shareholder and CEO.

Spedimex has specialized to become a key player in contract logistics with recognized expertise in the fashion and e-commerce sector for major international and Polish brands, as well as in cosmetics.

In addition to contract logistics, Spedimex offers a solid distribution and transport network, value-added logistics services or detail preparation. Spedimex has developed an asset-light model and operates in 15 sites across the country representing 230,000 m².

The company has implemented sophisticated mechanization and technology solutions capable of managing large and complex flows such as, for example, stores and e-commerce returns from more than 15 European countries for a single customer. In recent years, Spedimex has significantly increased its turnover to reach PLN 510 million (€ 109 million) in 2022.

This strategic acquisition is motivated by the close proximity of cultures and the very similar business models of the two companies: asset light approach, dedicated warehouses, solutions adapted to the specific needs of each operation.

The complementarity of customer portfolios and technical expertises between Spedimex and ID Logistics will also allow the development of significant commercial synergies, in particular for leading international customers. Adding Spedimex is perfectly in line with ID Logistics’ strategy to support its major customers in their development in Europe and America.

Finally, in a dynamic of post-Covid industrial relocation, ID Logistics is strengthening its position in a very dynamic market which already plays a central role in the current reorganizations of supply chains in Europe. With the acquisition of Spedimex, ID Logistics becomes one of the leaders in the Polish market with 35 sites, 7,000 employees and a portfolio of leading industrial customers, retailers and e-merchants.

Eric Hémar, Chairman and CEO of ID Logistics comments: “We are particularly pleased with the acquisition of Spedimex. We have a very similar culture and values, in particular the cult of customer proximity and innovation. This acquisition leads us to become one of the leaders on the Polish market which is one of the most dynamic in Europe and brings us a portfolio of new leading customers that we will develop in other countries of the Group”.

Marcin Bąk, Chairman and CEO of Spedimex comments: “We are happy to join forces with ID Logistics, which will allow our customers to take advantage of global logistics solutions. During the past 30 years, we have gradually developed our business, transforming it into a logistics operator with a potential of over 230,000 m2 of warehouse space and a team of 2 000 people.

We are extremely proud of the international portfolio of brands that have trusted us. The innovative business model and international potential of ID Logistics Group are what I am excited about. I am convinced that our common values, such as professionalism, commitment, and innovation, will allow us to continue developing our clients and employees in the future.”

The transaction remains subject to the approval of the competent Polish antitrust authorities. The acquisition is expected to be completed by June 2023.

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