Supply Chain · Profile from Supply Chain Research Companion
InPost
The Polish parcel company, founded in 1999 by Rafał Brzoska, that turned the automated parcel locker — the Paczkomat — into the default way Poles receive online orders, then exported the model to France and Benelux (Mondial Relay, 2021), Iberia, Italy and the UK (Yodel, Apr 2025). It delivered ~1,364.8m parcels in 2025 (+25%) on revenue of ~PLN 14.7bn (+34%) with >61,000 lockers (company, Jan–Mar 2026). On 9 Feb 2026 a consortium of Advent International and FedEx with Brzoska's A&R and the Czech PPF Group agreed a recommended all-cash offer of €15.60 a share (~€7.8bn equity); ~89.8% of shares were tendered by 18 Sep 2026 and settlement was due 30 Sep 2026, with Advent and FedEx each to hold 37%, A&R 16% and PPF 10% (reported; whether the squeeze-out or delisting has completed is unconfirmed at early Nov 2026 — verify). Its story is lockers as density without doorsteps: a locker bank turns dozens of residential stops into one, so the carrier's cost per parcel falls while the customer walks the last hundred metres. For a US reader it is the clearest test of an idea US carriers have tried but not scaled — and, through FedEx, now partly an American bet.
At a glance
- Founded
- 1999, Kraków, Poland, by Rafał Brzoska (company history; early business in leaflet and mail distribution under the Integer.pl group — verify); Paczkomat lockers from 2009 (company history, verify)
- Headquarters
- Kraków (operations); InPost S.A. is incorporated in Luxembourg (company)
- Ownership / structure
- Listed on Euronext Amsterdam from Jan 2021 (ticker INPST); after the 2026 tender, controlled by the Advent–FedEx–A&R–PPF consortium (settlement due 30 Sep 2026; delisting scheduled for 23 Oct 2026 only if 95% was reached, otherwise via a post-closing demerger and liquidation — status verify)
- Leadership (2026)
- Rafał Brzoska, founder and CEO (company); consortium partners Advent, FedEx, PPF
- Segments
- Poland (lockers, courier, fulfilment); Eurozone (Mondial Relay in France, Benelux, Spain, Portugal; Italy); UK and Ireland (InPost lockers plus Yodel from Apr 2025)
- Scale
- Parcels 1,364.8m in 2025 vs 1,091.6m in 2024 (+25%): Poland 763.1m, Eurozone 339.5m, UK + Ireland 262.1m (+181%); >61,000 automated parcel machines (APMs) (Euronext trading update, Jan 2026); plus pick-up-drop-off (PUDO) points through Mondial Relay (company; verify count)
- Financials
- 2025: revenue ~PLN 14.7bn (+34%; 2024 PLN 10,945.2m); reported EBITDA ~PLN 3,788.3m (25.8% margin; 2024 PLN 3,450.2m); adjusted EBITDA ~PLN 4.1bn (~27.9% margin, +12%); Poland adjusted EBITDA ~PLN 3,515.3m (~49.0% margin); capex ~PLN 1.8bn (+31%) (company FY2025 release and presentation, Mar 2026, via secondary summaries)
- Revenue basis
- Carrier revenue (own network), not a forwarder's pass-through; priced per parcel to merchants and marketplaces, plus consumer-to-consumer sends
- Signature moves (incl. failures)
- Paczkomat locker network (2009); the judicial-mail contract and exit from letters (2013–17, failure); Advent's take-private (2017); Euronext Amsterdam IPO (Jan 2021); Mondial Relay (2021); Allegro's own-delivery challenge (2022–23); Yodel (Apr 2025); the Advent–FedEx consortium takeover (2026)
8 strategic moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2009
Paczkomat Locker Network
Network build (automated parcel lockers)
2013
Judicial Mail Contract and Letters Exit
Customer contract; strategy pivot — failure (letters venture abandoned)
2017
Advent Take Private
Financing or take-private (private-equity control)
2021
Euronext Amsterdam IPO
Spin-off or IPO
2021
Mondial Relay Acquisition
Acquisition or merger (cross-border out-of-home network)
2022
Allegro Own Delivery Challenge
Customer contract; disruption and response (largest customer builds a rival network)
2025
Yodel Acquisition
Acquisition or merger (UK doorstep network to complement lockers)
2026
Advent FedEx Consortium Takeover
Financing or take-private (consortium acquisition by a private-equity firm and a strategic carrier)