CNOVA N.V.
C-Logistics, Cdiscount’s logistics subsidiary,
reinforces its industrial partnership with Group La Poste/GeoPost
AMSTERDAM – October 6, 2022, 07:45 CET Cnova N.V. (Euronext Paris: CNV; ISIN: NL0010949392) (“Cnova”) today announced the reinforcement of the industrial partnership between Cdiscount’s logistics subsidiary, C-Logistics, and GeoPost
Having been partners for nearly ten years, the two leaders in e-commerce logistics are now willing to reinforce their industrial partnership through the acquisition by GeoPost of a majority stake in CChezVous, C-Logistics' subsidiary dedicated to the transportation of bulky products. C-Logistics and GeoPost have also agreed to extend their collaboration to deliver small parcels throughout Europe, enabling C-logistics to accelerate its international expansion, reinforcing Cnova’s B2B strategic pillar.
Since 2021 and as part of Cnova’s B2B strategy, C-Logistics has been supporting physical and e-retailers in the development of their French and International e-commerce activity.
As historical partners, C-Logistics and GeoPost have built a partnership enabling the development of express and standard home delivery in France as well as express pick-up points delivery (more than 14,000 pick-up points). GeoPost also supported the European development of C-Logistics with a home delivery solution in more than 20 European countries.
Today, the two experts in logistics are willing to bolster their strategic partnership through the acquisition by GeoPost of a 95% majority stake in CChezVous, C-Logistics' transport subsidiary and a specialist in the delivery of heavy and bulky goods, for a consideration of 64 million euros*. Through this agreement, GeoPost will benefit from CChezVous’s premium set of delivery services (such as live digital tracking and7/7 delivery.) as well as its network of more than 600 pick-up points in France. The transaction is subject to a consultation with the competent employee representative bodies. The transaction is to be closed in the last quarter of 2022, subject to market standard conditions precedent.
In order to accelerate its international expansion, C-Logistics expands its collaboration with GeoPost in Europe for small packages. Starting in October 2022, more than 34,000 GeoPost pick-up points will complement C-Logistics' delivery service offerings in 13 European countries. In addition, from February 2023 on, Chronopost will become C-Logistics' partner in Europe for aircraft express delivery of small parcels.
*amount subject to potential closing adjustments.
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| Cnova Investor Relations Contact: investor@cnovagroup.com | Media contact: Vae Solis Communications cdiscount@vae-solis.com 06 60 90 69 72 Elody Rustarucci Elody.Rustarucci@cdiscount.com +33 6 18 33 17 86 |
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