GeoPost, the international express delivery subsidiary of the French Groupe La Poste, has acquired 100% of Stuart Delivery’s share capital.
Founded in 2015, Stuart Delivery is an on-demand delivery app and platform that connects retail stores with local couriers, enabling anyone to deliver anything at any time.
In less than two years, Stuart built a system that allowed algorithmic dispatch for on-demand and schedule jobs, integrating its app with retailers across France, the UK and Spain. It employs 100 people, facilitating thousands of deliveries per day for more than 500 active customers including Burger King, The Kooples and Franprix.
Stuart founders Clément Benoît and Benjamin Chemla said, “We are extremely proud of the journey that we and our more than 100 employees have taken over the last two years. GeoPost’s acquisition will enable Stuart to maximize its potential and become the leading player in last-mile delivery in Europe.”
GeoPost was an early investor in Stuart, acquiring a 22% share in 2015. Stuart’s strong growth last year, paired with GeoPost’s strategic interest in the last-mile delivery, led to the full acquisition.
Paul-Marie Chavanne, GeoPost’s CEO, added, “This decision logically follows our investments in Stuart over the past two years. Stuart completes our delivery service at a local level and embodies the future of express urban delivery, a rapidly expanding strategic activity for us.”
March 7, 2017