BUCHAREST (Romania), June 2 (SeeNews) – Romanian delivery company Cargus said on Wednesday that it has reached a definitive agreement to take over a majority stake in local e-fulfilment company QeOPS.
The acquisition is in line with the company's strategic investments in the last two years focused on digitisation and on improving the overall customer experience, Cargus said in a press release.
You can subscribe to our M&A newsletter here
The transaction also emphasises the company's commitment to the e-commerce segment, an area which is expected to continue the upward trend, with a double-digit growth in the coming years, it added.
"The acquisition allows Cargus to expand its offer with personalised e-fulfillment services and support us further in our commitment to digitise and streamline operations," Cargus CEO Jaroslaw Sliwa said.
Founded in 2015, QeOPS provides e-fulfillment services and customised logistics solutions.
Paul Copil, co-founder and CEO of QeOPS, will retain a significant minority stake and will continue to lead QeOPS in its next growth phase, Cargus added.
Urgent Cargus was created in 2014 after Polish fund Abris Capital bought local company Urgent Curier and merged it with the previously owned firm Cargus. In January 2019, Cargus was acquired by Mid Europa Partners investment fund from Abris Capital.
Cargus has a national network of 56 ship and go centres, five national sorting centers, 51 operational centers and a team of over 2,450 couriers making over 40 million deliveries per year.
In May, Cargus said that has invested 500,000 euro ($608,345) in a new warehouse in the southeastern county of Buzau.
In April, the company said it plans to invest 2.25 million euro to digitise its operations in Romania.
($=0.8212 euro)
YOU CAN SUBSCRIBE TO OUR M&A NEWSLETTER HERE.