A consortium of financial investors, which also owns the Czech parcel delivery service Packeta, has bought the sector's competitor Foxpost from its Hungarian owners, the parties informed MTI on Wednesday.
According to the information, the Wallis Group and Trueway (formerly Finext) sold the operator, which was the first player in the Hungarian parcel delivery market, to a consortium formed by CVC Capital Partners and EMMA Capital Group.
The transaction is expected to close later this year after obtaining regulatory clearance, they said. The parties did not disclose financial details of the transaction.
Foxpost was launched as a start-up in 2014 with 62 indoor vending machines, making it the first parcel delivery company in the Hungarian market. Its growth over the past ten years has been supported by two investor owners, Wallis Group and private equity fund manager Trueway.
The company now operates more than 1,200 vending machines, has contracts with thousands of e-commerce partners and delivered nearly 10 million parcels last year.
Foxpost is a true Hungarian start-up success story. "Wallis, together with fellow investor Trueway, has supported the company with its financial backing over the past ten years, and it has now attracted the attention of international investors," the statement quoted Gyula Mező, CEO of Wallis Asset Management.
Trueway board member Iván Halász said in the statement that they are proud to have been involved in building another innovative, competitive domestic company from its early, growth stage.
Ádám Bengyel, CEO and co-founder of Foxpost Zrt. highlighted the importance of the backing provided by the previous owners, adding that the change of ownership supports their growth plan.
According to publicly available company data, Foxpost Plc.'s net revenue last year was HUF 8.184 billion, up from HUF 4.217 billion in 2022, which is about five times the 2020 figure. The company ended last year with a profit after tax of around HUF 300 million, compared with a loss of HUF 1.280 billion in 2022.
Packeta Hungary Kft. achieved net sales of HUF 8.182 billion in 2023 and HUF 5.57 billion in 2022. Its loss of HUF 475.2 million in 2022 turned into a profit of HUF 340.5 million last year.
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 annual sales of around EUR 100 billion.
EMMA Capital is a private investment holding company founded by Czech billionaire Jirí Smejc in 2012. In addition to the EU, the company is active in Asian markets with a focus on retail and customer-focused companies.


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