PineBridge Investments and Integer.pl make 108 million euro joint investment
CRACOW, April 23, 2012
PineBridge Investments and Integer.pl make €108 million joint investment
Significant investment to develop InPost’s EasyPack system across Europe
CRACOW, April 23, 2012 - PineBridge Investments, the global multi-asset class investment manager and Integer.pl Group, the leading independent Polish postal group operating under the InPost brand and other courier & postal brands, today announced a joint investment to develop and roll-out an innovative parcel system, EasyPack, in Europe and CIS countries.
Subject to approval by the UOKiK (Office of Competition and Consumer Protection), a total of €108 million will be invested in this project. Integer.pl will make a cash and capital investment of €58 million over two years, while PineBridge Investments will provide an investment of €50 million.
EasyPack is a simple parcel solution product that allows parcel sending and collecting in just 17 seconds, allowing customers to use it on their way to work or home, 24 hours a day, 7 days a week, in convenient locations.
EasyPack is already successfully operating in Poland and Russia and the project will focus on the expansion of the EasyPack system across 12 countries in Europe and CIS region, and is designed to support a rapidly growing global e-commerce market. Up to 16,000 EasyPack machines are planned to be installed by the end of 2016.
Rafal Brzoska, CEO of the Integer.pl Group commented, "We are very pleased with this project and look forward to working closely with PineBridge Investments as we roll-out our ambitious international growth strategy. 2011 was an important year of growth for the EasyPack system as we won contracts to implement the units in a number of global markets, and we have continued to expand the range this year into countries such as Latvia and Ireland. The agreement with PineBridge will allow us to further strengthen our position and capture the significant growth opportunities we are seeing in this sector.”
"We have been impressed with the success of Integer.pl to date and, particularly with the results achieved by EasyPack in Poland and look forward to supporting the company in its international expansion,” said Rossen Hadjiev, Managing Director of PineBridge Investments (Central Europe).
Pierre Mellinger, CEO and President of PineBridge Investments (Central Europe), said “PineBridge is proud to join forces with Integer.pl, led by its founder Rafal Brzoska, to provide growth equity for the regional development of this very successful Polish company.”
About PineBridge Investments
PineBridge Investments manages US$67.3 billion in assets, as of 31 December 2011, for institutional and individual clients across an extensive platform of listed equity, fixed income, private equity and hedge fund strategies. With more than 800 employees, PineBridge Investments’ strong global network captures local market knowledge and identifies potential opportunities for the benefit of investors around the world. For additional information on PineBridge Investments, visit www.pinebridge.com.
About Integer.pl Group
Integer.pl Group was founded in 1999 and today consists of 10 companies specializing in the distribution of addressed and non-addressed mailing and direct marketing materials. In 2006 Integer.pl started addressed mail handling and delivery services through its InPost subsidiary which is currently the largest, independent postal operator in Poland.
In 2007 Integer.pl Group shares were listed on the Warsaw Stock Exchange. Two years later, in 2009, InPost launched EasyPack, a parcel solution enabling 24/7 sending and collecting of packages.
Media Contacts for PineBridge Investments:
Ryan O’Keeffe/Talia Druker/Nell Murphy
+44 20 7251 3801
Media Contacts for Integer.pl Group:
Eliza Misiecka, Urszula Głowicka
GENESIS PR Poland
+48 22 327 16 90