ID Logistics strengthens its presence in Poland with the acquisition of Spedimex

• 100% takeover of Spedimex, a leading contract logistics provider in Poland and specialist in the fashion and e-commerce sector (turnover 2022: EUR 109 million)
• Expansion of ID Logistics' geographical presence in Poland; 15 new locations and blue-chip customers
• Transaction 70 per cent in ID Logistics shares and 30 per cent in cash
• Solid financial structure to be maintained: leverage ratio of 1.9x EBITDA in 2022, unchanged after acquisition

ID Logistics (ISIN : FR0010929125, Ticker: IDL), one of the leading contract logistics companies in Europe, announces the 100% acquisition of Spedimex. Spedimex is one of the most important Polish contract logistics companies specialising in fashion and e-commerce.

TAKEOVER OF SPEDIMEX

Spedimex is one of the most important independent players on the Polish contract logistics market. The company was founded in 1993 by the Bąk family. Today, Marcin Bąk is the main shareholder and CEO of the company.

Spedimex specialises in fashion and e-commerce for major international and Polish brands, as well as cosmetics, and has become a key player in contract logistics. In addition to contract logistics, Spedimex offers a solid distribution and transport network, value-added logistics services and detailed preparation. Spedimex has developed an asset-light approach and is active in 15 locations in the country, totalling 230,000 m². The company has implemented sophisticated mechanisation and technology solutions and is therefore able to handle extensive and complex logistical challenges - for example, returns from shops and e-commerce transactions from over 15 European countries for a single customer. In recent years, Spedimex has been able to significantly increase its turnover to 510 million zlotys (109 million euros) in 2022.

This strategic acquisition is due to the great similarity in corporate cultures and business models: Asset-light approach, specialised warehouses, tailor-made solutions for the specific needs of individual business processes. The customer portfolios and technical expertise of Spedimex and ID Logistics make it possible to create considerable economic synergies, especially for leading international customers. The acquisition of Spedimex fits perfectly with ID Logistics' strategy to support its key customers in their development in Europe and the Americas.

In addition, ID Logistics strengthens its position against the backdrop of an extremely dynamic market in a post-pandemic relocation environment, which is already playing a central role in the current reorganisation of European supply chains.

In addition, ID Logistics is strengthening its position in a highly dynamic market in a post-pandemic relocation environment, which is already playing a central role in the current reorganisation of supply chains in Europe. The acquisition of Spedimex makes ID Logistics one of the most important players on the Polish market - thanks to 35 locations, 7,000 employees and a portfolio consisting of leading industrial customers as well as retailers and online retailers.

COMMENTS FROM THE MANAGEMENT BOARD

Eric Hémar, Chairman and CEO of ID Logistics, comments: "We are very pleased with the acquisition of Spedimex. Our corporate culture and values are very similar. This is especially true for the outstanding importance we place on customer proximity and innovation. This acquisition will make us a leading player on the Polish market, one of the most dynamic markets in Europe. It also brings us a portfolio of new top customers that we will continue to develop in other countries where our Group is active."

Marcin Bąk, Chairman and CEO of Spedimex, adds: "We are very pleased about the merger with ID Logistics, which will enable our customers to benefit from global logistics solutions. Over the past 30 years, we have gradually developed our business into a logistics player with over 230,000 square metres of warehouse space and a team of 2,000 employees. We are extremely proud of the international portfolio of brands that have placed their trust in us. The innovative business model and international potential of the ID Logistics Group raise great expectations in me. I am convinced that thanks to our shared values - such as professionalism, commitment and innovative strength - we can continue to help our customers and employees develop in the future."

OVERVIEW OF THE TRANSACTION

The transaction is based on an enterprise value of 350 million zlotys (74 million euros) and will be settled 70 per cent in new ID Logistics shares and 30 per cent in cash. These payment terms will allow ID Logistics to maintain a solid financial structure after the acquisition - with a leverage ratio of 1.9x EBITDA before IFRS 16 as of 31 December 2022.

The transaction is still subject to the approval of the relevant Polish antitrust authorities. The acquisition is expected to be completed by June 2023.

NEXT RELEASE
Publication of the figures for the first quarter of 2023 on 24 April 2023 after close of trading.

ABOUT SPEDIMEX:
Spedimex, led by Marcin Bąk, is a privately owned Polish contract logistics company specialising in supply chain management solutions. These include complex solutions for the storage and distribution of goods. Spedimex has a network of transshipment terminals in strategically important Polish regions. The company offers road distribution services in Poland and Europe, including a full range of groupage and full truck load transport services. Spedimex manages a warehouse area of over 200,000 m². In addition to standard warehousing services, the company offers operational logistics services such as packing and sorting of goods, labelling, completion of delivery sets and quality control.

ABOUT ID LOGISTICS:
ID Logistics Group, managed by Eric Hémar, is an international contract logistics service provider with a global turnover of EUR 2.5 billion in the 2022 financial year. ID Logistics operates 365 locations with over eight million in Europe, North and South America, Asia and Africa and employs around 30,000 people. Customers from retail, industry, healthcare and the e-commerce sector rely on ID Logistics' technology-supported solutions. Since its foundation in 2001, the Group has developed a social and environmental approach through a series of pioneering projects and is firmly committed to an ambitious CSR policy. ID Logistics is listed on the regulated market of Euronext Paris (Compartment A) (ISIN code: FR0010929125, ticker: IDL).

Contact ID Logistics
Yann Perot - CFO
Tel: +33 (0)4 42 11 06 00
yperot@id-logistics.com

INVESTOR RELATIONS CONTACT
NewCap
Tel: 33 (0)1 44 71 94 94
idlogistics@newcap.eu