BRUSSELS (Reuters) - Bpost, Belgium’s national postal deliverer, said on Monday it has agreed to buy Radial, the U.S.-based distribution centre operator, for $820 million in cash and debt.
The move is intended to give Bpost a major boost in its speed and reach in delivering packages ordered online, the major growth area in the postal industry.
Radial, owned by Sterling Partners, was created by merging eBay’s former operations services division with U.S. firm Innotrac in 2016.
Bpost said Radial expects revenue of around $1 billion in 2017 and earnings before interest, taxes, depreciation and amortisation (EBITDA) of at least $65 million.
Reporting by Toby Sterling; editing by Jason Neely