Evri is being prepared for a £2bn sale, according to reports, with US equity giant Advent International appointing advisers to explore options for the parcel delivery group.
According to national media reports, Advent, which holds a 75% stake in Evri, is working with Rothschild advisers on its options for the business, which could be valued at around £2bn, including debt. Evri, which was founded in 1974 as the delivery network of the Grattan catalogue, has around 20,000 self-employed drivers and employs almost 7,700 staff at its head offices and warehouses.
The courier currently has an 18% share of the UK market, delivering 720 million parcels a year in total. In 2022 it paid out a record £762m dividend to shareholders. However, the impact of the Ukraine war, combined with the cost-of-living crisis, rising inflation, an industry skills shortage, and a return to high-street shopping, have all taken their toll.
