Belgian postal operator Bpost has completed its $820 million acquisition of Radial Inc., a leading provider of e-commerce fulfillment services in North America.
The deal represents an effort by Bpost to tap into a high-growth and potentially more profitable business while also providing better international parcel delivery service for customers, according to a statement released on Nov. 16.
Based in King of Prussia, Pa., Radial shipped more than 306 million units for retail customers through 24 fulfillment centers in 2016. The company is projected to generate revenue of between $970 million and $1.02 billion in 2017.
The business will operate as Bpost Parcels & Logistics Americas and will be led by Pierre Winand, president of the Americas division of Landmark Global, the international parcel delivery network of Bpost.
Former Radial CEO Matt Espe will step down immediately, Bpost officials said.