Leadership Change at Foxpost as Integration with Packeta Nears Completion
The Hungarian parcel delivery service undergoes executive restructuring amidst a merger with Packeta.
Foxpost, a prominent Hungarian parcel delivery service, is set to undergo a significant leadership transition following the company's sale last year.
Adam Bengyel, the CEO, and Peter Lanyfalvi, the Chief Commercial Officer, will depart from their roles.
The management reins will be passed to Zoltan Radeczky, the interim managing director of Packeta Hungary, as reported by Hungarian news agency MTI.
The integration between Foxpost and Packeta is expected to be finalized by autumn, resulting in the establishment of the largest parcel pickup point network in Hungary.
Last June, the Wallis Group and Trueway (formerly Finext), the Hungarian owners of Foxpost, sold the company to a consortium of financial investors that also owns the Czech delivery service Packeta.
This acquisition was subsequently approved by the competition authority several months later.
CVC, a global private equity and investment management firm that operates across Europe, Asia, and the United States, manages an investment portfolio of approximately €177 billion, while the EMMA Capital Group, a private investment holding, was founded in 2012 by Czech businessman Jirí Smejc.
Packeta Group, which operates in four Central and Eastern European countries, boasts a network of over 17,000 pickup points, in addition to having partnerships with more than 173,000 locations and collaborating with over 40,000 online retailers.
The company delivered 131 million packages last year, with revenue increasing to €338 million in 2023 from €294 million in 2022. Packeta Hungary Kft.
has been serving Hungarian online retailers since 2019 and has offered dedicated services to private individuals since 2021. Their Z-Pont pickup locations and Z-BOX parcel machines exceed 3,500, supported by a central depot in Fót and eight regional locations.
Foxpost, which began as a startup in 2014, has developed into one of Hungary's leading parcel machine service providers over the past decade.
As of August last year, the company, equipped with more than 1,200 machines and serving thousands of commercial partners, projected to deliver close to 10 million packages in 2023.
In a statement, departing CEO Adam Bengyel noted the achievement of their goal to make parcel machines the primary solution for small parcel logistics in Hungary, expressing pride in the merger with Packeta Group, asserting it ensures a promising future for both companies.
Zoltan Radeczky stated that following the completion of the integration, the aim is to become the market leader in Hungary’s small parcel logistics sector.
Public company data indicates that Foxpost closed 2022 with a revenue of HUF 4.2 billion and a loss of HUF 1.28 billion.
However, in the preceding year, the company achieved revenue exceeding HUF 8 billion, with approximately HUF 2.3 billion from export sales, and a profit nearing HUF 300 million.
Adam Bengyel, the CEO, and Peter Lanyfalvi, the Chief Commercial Officer, will depart from their roles.
The management reins will be passed to Zoltan Radeczky, the interim managing director of Packeta Hungary, as reported by Hungarian news agency MTI.
The integration between Foxpost and Packeta is expected to be finalized by autumn, resulting in the establishment of the largest parcel pickup point network in Hungary.
Last June, the Wallis Group and Trueway (formerly Finext), the Hungarian owners of Foxpost, sold the company to a consortium of financial investors that also owns the Czech delivery service Packeta.
This acquisition was subsequently approved by the competition authority several months later.
CVC, a global private equity and investment management firm that operates across Europe, Asia, and the United States, manages an investment portfolio of approximately €177 billion, while the EMMA Capital Group, a private investment holding, was founded in 2012 by Czech businessman Jirí Smejc.
Packeta Group, which operates in four Central and Eastern European countries, boasts a network of over 17,000 pickup points, in addition to having partnerships with more than 173,000 locations and collaborating with over 40,000 online retailers.
The company delivered 131 million packages last year, with revenue increasing to €338 million in 2023 from €294 million in 2022. Packeta Hungary Kft.
has been serving Hungarian online retailers since 2019 and has offered dedicated services to private individuals since 2021. Their Z-Pont pickup locations and Z-BOX parcel machines exceed 3,500, supported by a central depot in Fót and eight regional locations.
Foxpost, which began as a startup in 2014, has developed into one of Hungary's leading parcel machine service providers over the past decade.
As of August last year, the company, equipped with more than 1,200 machines and serving thousands of commercial partners, projected to deliver close to 10 million packages in 2023.
In a statement, departing CEO Adam Bengyel noted the achievement of their goal to make parcel machines the primary solution for small parcel logistics in Hungary, expressing pride in the merger with Packeta Group, asserting it ensures a promising future for both companies.
Zoltan Radeczky stated that following the completion of the integration, the aim is to become the market leader in Hungary’s small parcel logistics sector.
Public company data indicates that Foxpost closed 2022 with a revenue of HUF 4.2 billion and a loss of HUF 1.28 billion.
However, in the preceding year, the company achieved revenue exceeding HUF 8 billion, with approximately HUF 2.3 billion from export sales, and a profit nearing HUF 300 million.
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