GeoPost, has acquired 100% of Stuart Delivery Ltd. to cement its status as the European leader of last mile delivery

GeoPost, the international express delivery subsidiary of the French Groupe La Poste, announces today that it has acquired 100% of Stuart Delivery Ltd.’s share capital. GeoPost was an early investor in Stuart, having acquired a 22% share in 2015. Given Stuart’s strong growth in 2016 and GeoPost’s strategic interest in last mile delivery, the acquisition was a natural fit.

07 March 2017

Founded in 2015 by Clément Benoît and Benjamin Chemla, Stuart is a technology platform which connects retailers across all major verticals with a fleet of independent couriers to help business meet the ever-increasing delivery expectations of their end-customers.

In less than two years, Stuart built best-in-class algorithmic dispatch for both on-demand and scheduled jobs, and integrated its API with leading multinational retailers across France, the U.K. and Spain. With 100 employees across technology, data, product, operations and business development, Stuart facilitates thousands of deliveries per day for more than 500 active customers including such companies as Carrefour, Franprix, Burger King, The Kooples, Pizza Hut and Cdiscount.

Paul-Marie Chavanne, GeoPost’s CEO, stated that “This decision logically follows our investments in Stuart over the past 2 years. Stuart completes our delivery service at a local level and embodies the future of express urban delivery, a rapidly expanding strategic activity for us.”

Messrs. Benoît and Chemla further commented: “We are extremely proud of the journey that we and our more than 100 employees have taken over the last two years. GeoPost’s acquisition will enable Stuart to maximise its potential and become the leading player in last mile delivery in Europe.”

GeoPost will create a new platform in express urban delivery combining technological strength, a disruptive business model and environmental responsibility

GeoPost’s acquisition will enable Stuart to continue to develop its innovative model and technology, which, in combination with GeoPost’s market leadership position in the delivery space, will cement GeoPost as a leading provider of express urban delivery throughout Europe.

Stuart adds the final piece in the delivery value chain formed by GeoPost subsidiaries Chronopost, DPD, SEUR and Pickup. Combined with its new sister companies, Stuart’s platform allows retailers and their customers a suite of the fastest delivery options performed by an environmentally friendly fleet. Indeed, 90% of Stuart’s deliveries in France are performed on foot, by bike or by electric vehicle.

Strong corporate coordination will accelerate Stuart’s development and increase its synergies with GeoPost’s other subsidiaries

Stuart will remain an independent brand and subsidiary in order to maximise its strengths, most notably a dynamic management team and vigorous commitment to technological innovation.

In addition, Diego Magdelénat and Paul-Ambroise Archambeaud will co-chair Stuart going forward. Messrs. Magdelénat and Archambeaud are the founders of Pickup, a start-up specialising in alternative delivery which GeoPost acquired in 2009. Since GeoPost acquired Pickup, it has become the leading network of parcel shops in Europe, with over 28,000 pick-up points and 52 million packages processed in 2016.

Pickup’s leaders will help quickly integrate Stuart within GeoPost in order to maximise synergies between the companies, including developing innovative, value-generating solutions for the Group’s customers. Stuart’s co-founders will ensure a smooth transition over the next few months.

A Shared Vision

Stuart has led the gig economy industry in creating a socially responsible model for independent contractors offering their delivery services on its platform. Among other steps, Stuart has negotiated professional third party insurance for couriers as well as complimentary health insurance for couriers working in France. Stuart has also seized the leadership mantle in France, participating in French policymakers’ debates on social protections for freelancers. Groupe La Poste has fully supported this commitment from the outset, which will continue as Stuart grows across Europe.