Yodel Announces New Ownership Structure
2nd August 2024
Independent parcel carrier Yodel has announced an £85m funding package that will enable the company to invest in plans to further automate and modernise the business over the next three years. This includes initiatives that will be rolled out in response to the acceleration of consumer Out of Home (OOH) deliveries and a material increase in parcel volumes through this fast-growing channel.
Yodel will continue to be led by CEO Mike Hancox, who took control of the company in June 2024. Hancox will retain a significant shareholding following the new funding, and will work with the existing senior management team and strategic business partners, including PayPoint plc, who made a strategic investment of £10m in June 2024, and operate the leading OOH network, Collect+, in over 12,000 locations across the UK.
Building on solid growth
Over the last year, Yodel has experienced growth with increased volumes supported by multiple new contract wins and renewals with some of the biggest and fastest growing ecommerce businesses serving the UK. This growth has been supported by strong demand for its Out-of-Home operations and the booming customer-to-customer market (C2C), with Yodel seeing a 200% uptick in C2C volumes in the last two years.
To meet this demand, the business has continued to make significant investments in its network and infrastructure including a brand-new 162,000 sq. ft. depot in Huyton, doubling Yodel’s capacity in the North West. The business also continues to make multi-million pound investments in its fleet.
Mike Hancox, CEO of Yodel, said: “I am delighted that we have secured a funding package that gives Yodel financial security into the future and the ability to continue investing in the long-term success of the business. I have to say thank you to my colleagues and our clients, who have been very supportive whilst Yodel has gone through a change of ownership, after many years with the Barclay family. We are excited to develop our Out of Home delivery offer and grateful for the support of the investors who will make this possible.”
This latest investment is supported by a consortium of investors including PayPoint plc. and IGF (Independent Growth Finance).
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