Quadient Signs Agreement to Divest Its British Locker Network for 65 Million Euros
Following the strategic review launched on July 20, 2026, the group based in Bagneux has decided to divest its Lockers business, with the exception of the European private network which will be retained. A first agreement concerns the British open network, valued at 65 million euros.
Divestment of the British Network to IDS Holdco Limited for 65 Million Euros
Quadient has concluded an agreement to divest to IDS Holdco Limited its open network in the United Kingdom, which comprises an installed base of approximately 3,000 lockers, for an enterprise value of 65 million euros. This transaction follows a competitive process conducted as part of a broader strategic review of the Lockers business worldwide. The Board of Directors unanimously approved this transaction on September 22, 2026, after concluding that IDS Holdco Limited's offer provided the best value for this network. The transaction is expected to be completed by the end of the 2026 financial year. Quadient was advised by Société Générale on financial aspects, by Addleshaw Goddard on English legal aspects, and by Darrois Villey Maillot Brochier on French corporate law aspects.
Divestment Process Initiated for Japan and North America
Following the strategic review, Quadient has initiated a divestment process for the remainder of its Lockers operations. This scope includes installed bases in Japan and North America, described as the group's largest and most profitable locker networks, where the company indicates it holds a leading position. Operations will continue during the process. The smaller European private parcel locker network (approximately 7 million euros in revenue during the 2025 financial year) will be retained and managed by the Mail business. Capital allocation policy will be reviewed once the divestment process is completed, in order to determine the use of proceeds between debt reduction, investment in growth priorities, and potential shareholder returns.
Financial Leverage Expected at Approximately 1.2x and 120 Million Euros of Investments Potentially Released
The entire Lockers business generated revenue of 114 million euros during the 2025 financial year, up 22.4% on a reported basis compared to 2024, with an EBITDA margin of 5.0%. It represented an installed base of 27,700 lockers worldwide as of end-January 2026. The divestment of the British network is expected to bring the targeted financial leverage for the 2026 financial year (excluding leasing) to approximately 1.2x compared to approximately 1.5x initially, subject to its completion by the end of the financial year. The divestment of the entire Lockers business should also release approximately 120 million euros of investments over the next five years. Given the anticipated completion within twelve months following the close of the first half of 2026, Quadient has reclassified the Lockers business as held for sale and presented it as a discontinued operation in accordance with IFRS 5 in its consolidated accounts for the first half of 2026.
