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Chinese online retail behemoth JD.com has emerged as a potential bidder for British parcel delivery company Evri, according to sources close to the matter.
According to a report from Reuters, the move could see Evri, formerly known as Hermes, valued at approximately £2 billion, including debt.
JD.com has reportedly advanced to the second stage of bidding after submitting a non-binding offer last month. The Chinese firm is not alone in its interest, with Polish parcel locker company InPost and Cainiao, the logistics arm of Alibaba Group, also exploring potential bids.
Evri’s current majority stakeholder, private equity fund Advent International, owns 75% of the business, while German mail order company Otto Group holds the remaining 25%. Both companies have declined to comment on the potential sale.
This development follows JD.com’s previous consideration of bidding for British electrical retailer Currys earlier this year. The Chinese company already has an existing partnership with Evri, aimed at providing European brands greater access to the Chinese market.
The potential sale of Evri comes amidst significant changes in the UK’s parcel delivery landscape. Royal Mail’s parent company, International Distribution Services, is currently in the process of being taken private by Czech billionaire Daniel Kretinsky.
Other interested parties reportedly include Apollo Global Management, which has also progressed to the second stage of bidding.
Evri, which rebranded from Hermes UK in 2022 following Advent’s acquisition of a majority stake, has become a major player in the UK’s parcel delivery market. The outcome of this potential sale could significantly reshape the competitive landscape of British logistics services.
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