JD.com considers Evri bid
Back in January this year JD.com announced a partnership with Evri in its effort to offer European brands more access to its consumer base in China
Chinese online retailer JD.com is reportedly considering a bid for parcel delivery company Evri.
It is now thought to be in the second stage of bidding after tabling a non-binding offer last month, according to Reuters.
Other companies involved in the process include Polish parcel locker firm InPost and Alibaba Group’s logistics arm, Cainiao.
Apollo Global Management is thought to also be through to the second stage.
The firm, formerly known as Hermes, drafted in advisers earlier this year to explore its options, and this includes a possible sale of the business that could value it around £2bn.
Evri’s private equity owner Advent took out a dividend of £762m two years after it acquired the firm and has saddled the company with more than £1bn worth of debt.
Back in January this year JD.com announced a partnership with Evri in its effort to offer European brands more access to its consumer base in China.
This included Evri’s local pick-up and warehousing in Europe as well as international transportation, access to Chinese bonded warehouses, customs clearance, and delivery across China.
In addition, JD Worldwide, the cross-border ecommerce platform of JD.com, provided Evri’s retail partners with insights on the Chinese market.