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Finance

Poland's InPost to invest further 600 million pounds in Britain by 2029

Published by Global Banking and Finance Review

Posted on January 25, 2025

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(Reuters) -Poland's InPost will invest an additional 600 million pounds ($731 million) by 2029 to expand its operations in the United Kingdom, the UK government said on Thursday.

This will bring the parcel locker company's total investment in the UK to 1 billion pounds, supporting up to 12,000 new jobs, the government said in a statement.

InPost plans to expand its network of automated lockers and logistics infrastructure in the country, the company said in a statement on Friday.

The lockers, dubbed automated parcel machines or APMs, allow customers to collect or drop off packages when it suits them.

Britain is InPost's fastest growing market and the company plans to increase the number of APMs there by 50% in 2025, InPost's founder and CEO Rafal Brzoska said.

Volumes in the country rose 58% in the fourth quarter of 2024 as InPost expanded its APM network, which stood at more than 9,200 at end of last year.

In 2024, InPost completed its acquisition of Menzies, giving it full ownership of the entire logistics process in Britain.

($1 = 0.8212 pounds)

(Reporting by Rhea Rose Abraham in Bengaluru and Anna Pruchnicka in Gdansk. Editing by Mark Potter and Milla Nissi)