GeoPost/DPDgroup acquires the majority stake of Speedy AD in Bulgaria

April 12, 2021

By Transport Intelligence

GeoPost/DPDgroup has announced that is has become the majority shareholder of Speedy AD with 69.81% of the share capital, reinforcing its presence in Bulgaria and Romania. This follows a successful relationship spanning a decade, according to the company.

The partnership between two logistics providers includes;

• In 2010, Speedy, a reference player on the Bulgarian CEP market, became a partner of the GeoPost/DPDgroup network in Europe for parcel delivery in Bulgaria.
• In 2014, GeoPost/DPDgroup enhanced this partnership, acquiring 25% of Speedy AD. Speedy then took control of DPD Romania (previously owned by GeoPost/DPDgroup).
• On 19 March 2021, a successful voluntary tender offer (VTO) allowed GeoPost/DPDgroup to obtain a majority share (69,81%) in Speedy AD.
• A Mandatory Tender Offer is under review by the Bulgarian Financial Supervision Commission, which could further increase the shareholding by the end of June 2021.

DPDgroup continues its development in Europe. This acquisition is said to benefit both Speedy (group of companies) and GeoPost/DPDgroup by reinforcing their core business on both B2B and B2C segments. “In this incredibly dynamic parcel market, we want to further develop our business to better support the development of our customers,” explained Yves Delmas, COO Europe DPDgroup.

“Bulgaria and Romania are the fastest growing markets in Eastern Europe and we are therefore very pleased to integrate Speedy AD in DPDgroup.”

Valeri Mektouptchiyan, founder of Speedy, remains CEO of the company and stated, “We have been developing the parcel markets in Bulgaria and Romania over the past 20 years; it is the right time for Speedy to be part of an international network with coverage in Europe and beyond. I am very happy that we managed to bring this partnership to successful level and that we delivered on our promises to the investors when we made the company public in 2012.”

Speedy in Bulgaria and DPD in Romania have presences in their respective countries. Through this acquisition, DPDgroup is continuing its target to bolster its European footprint.

Source: DPDgroup