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(Sharecast News) - Germany's DHL Group is to take a "significant" minority stake in British parcel delivery firm Evri, it was announced on Wednesday.
Under the terms of the deal, DHL's UK e-commerce arm will merge with Evri, which was acquired by US private equity firm Apollo in 2024 from Advent International for around 2.7bn.
Financial terms were not disclosed, although DHL confirmed that Evri - which rebranded from Hermes in 2022 - would remain majority-owned by Apollo.
The deal is set to create a major UK carrier capable of delivering more than 1bn parcels a year, as well as seeing Evri enter the business letter market. DHL said the merged entity would be able to deliver 1bn business letters annually.
Pablo Ciano, chief executive of DHL eCommerce, said: "Together, we'll be able to offer more efficient, far-reaching and innovative solutions to keep up with the fast-paced e-commerce market."
Martijn de Lange, Evri chief executive, said the deal would bring together "two highly complementary UK businesses".
He continued: "By combining Evri's scale, innovation and DHL eCommerce's premium van network, we are creating the pre-eminent parcel delivery group in the UK."
The combined business, which will be led by De Lange, will have 8,000 vehicles and around 30,000 couriers and drivers.
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