This follows an announcement from Otto Group, that it has formed a partnership with Advent for its Hermes Group businesses in the UK and Germany.
Under the terms of the deal, Advent will partner with the current management team to acquire a 75% stake in Hermes UK. Otto Group will continue to own 25% of the company. The transaction will facilitate further investment by Hermes in technology and infrastructure and support the future growth of the business in the rapidly growing parcel delivery sector. The management of Hermes UK will continue to lead the business as an independent company, with ‘business as usual’ for employees, suppliers and customers.
In addition to the 75% shareholding in Hermes UK, Advent will also acquire a 25% stake in Hermes Germany, which includes other Hermes Germany Group companies including BorderGuru and a share in the Parcel Lock joint venture
