Acquisition of Foxpost Completed

The acquisition of Foxpost has been closed following the receipt of clearance from the competition authority and the fulfilment of other conditions, the sellers, Wallis Group and Trueway (formerly Finext), told MTI.

According to the statement, the growth plans of the Hungarian-based parcel delivery service provider will be supported by international ownership. Further growth is needed to increase the number of users even faster than before.

The new owner of the company is CVC Capital Partners, an international consortium of investors with EMMA Capital Group, which operates similar services in other countries in the region. The consortium also owns Packeta Group, a market leader in the Czech Republic and Slovakia and also present in Hungary.

CVC is a global equity and investment fund manager with operations in Europe, Asia and the United States, managing EUR 177 billion of investments, with stakes in 125 companies with a combined annual turnover of around EUR 100 billion and employing more than 550,000 people. EMMA Capital is a private investment holding company founded in 2012 by Jiří ©mejc. EMMA's investment priority is retail and customer-focused companies.

Foxpost has more than 1,200 delivery machines in Hungary, serves thousands of retail partners and delivered almost 10 million parcels last year, they added.

The company, founded in 2014, closed 2022 with revenues of HUF 4.2 billion and a loss of HUF 1.28 billion, according to its report. In 2023, it had a turnover of more than HUF 8 billion, of which almost HUF 2.3 billion came from export sales, and a profit of nearly HUF 300 million.