Forecourt Trader - 30 years at the heart of the fuel retailing community

Paypoint takes full ownership of Collect+ parcel service for £6m

Merril Boulton ·

PayPoint has announced a £6m deal with Yodel to take full ownership of Collect+, the parcel services operation which has a store network of more than 7,000 newsagents, convenience stores, supermarkets and petrol stations.

The agreement reaffirms the long-term partnership between the two companies, with Yodel committing to a multi-year contract to continue as a parcel carrier for Collect+.

Collect+ was set up as a joint venture between PayPoint and Yodel in 2009, to provide a simple, local and accessible service for people to send parcels, return parcels or click and collect.

The deal means PayPoint has now acquired the 50% of shares that were previously owned by Yodel.

PayPoint will continue to increase the capacity of the Collect+ network and build on the already strong carrier partnerships.

Nick Wiles, executive chairman of PayPoint, said: “This is an extremely important moment for Collect+ which has grown substantially to become the UK's biggest parcel network working with major carriers such as DHL, FedEx and Yodel and retail giants such as Amazon and eBay.

"We look forward to continuing to work closely with Yodel on behalf of our retailers and the millions of customers who rely on the Collect+ service.

"There is substantial opportunity for further expansion – both in terms of the partners we work with and the numbers of outlets we have. We are very excited about the future of Collect+.”

Want more stories like this in your inbox?

Sign up for our FREE email newsletter

Keywords:

My Account

You are not logged in.
  • Weekly
    Retail
  • Weekly
    wholesale
  • Daily
    Average
Weekly retail fuel prices: 1 June 2020
RegionDieselLPGSuper ULUL
East112.6064.60121.00107.57
East Midlands112.14121.84107.50
London113.60124.14108.74
North East110.9563.90125.31105.73
North West111.56121.79106.78
Northern Ireland108.93114.90103.65
Scotland111.31122.05105.92
South East113.3559.90123.22108.19
South West112.0958.90123.24106.99
Wales110.68120.57105.17
West Midlands112.32122.47107.23
Yorkshire & Humber111.71121.15106.44

Most read

Have you introduced a new way of doing business/added new services during the pandemic, that you will continue to offer in the future?

Digital Edition