The US-based firm, which will acquire a 75% stake in the UK parcel delivery company and 25% of its German operations, is said to have paid €1bn for both businesses

US-based private equity firm Advent is set to acquire a 75% stake in the parcel delivery business Hermes UK from its parent company Otto Group. The deal is valued at around €1bn including debt, a person familiar with the matter told 

Under the terms of the deal, Otto will retain a 25% stake in Hermes UK and its management team will continue to lead the business. Additionally, Advent will take 25% of Hermes’ German business.

Advent acquires Hermes UK in €1bn deal amid online sales boom

Elisângela Mendonça

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