Yodel has secured an £85m funding deal to spearhead growth under its new ownership structure.
The parcel delivery group, which was previously owned by the Barclay family and narrowly avoided collapse in February, said the investment will enable it to further automate and modernise the business over the next three years.
This includes initiatives that will be rolled out in response to the acceleration of consumer Out of Home (OOH) deliveries and a material increase in parcel volumes through this fast-growing channel.
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The funding deal comes after Paypoint, which has a partnership with the firm through its Collect+ division, supplied a £10m investment into the company in June.
Yodel chief executive Mike Hancox, who owns significant shareholding in the business, said: “I am delighted that we have secured a funding package that gives Yodel financial security into the future and the ability to continue investing in the long-term success of the business.
“I have to say thank you to my colleagues and our clients, who have been very supportive whilst Yodel has gone through a change of ownership, after many years with the Barclay family. We are excited to develop our Out of Home delivery offer and grateful for the support of the investors who will make this possible.”
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