The success of the partnership has led to continuous year over year double-digit growth as sennder Italia S.r.l. has grown its network capacity and expanded its customer base.
The agreement to extend the JV by a decade is expected to generate €2.3 billion revenues for sennder Italia during that period.
As part of the agreement, Poste Italiane and sennder have agreed to accelerate the respective conversion rights envisaged by the pre-existing agreements and, as a result, sennder owns 75% of sennder Italia while the remaining 25% is retained by Poste Italiane.
In return, Poste Italiane has increased its stake in sennder to approximately 10% on a fully diluted basis. sennder will further integrate the Italian network into its broader European platform.
With this partnership, the two parties will be able to further realize economies of scale and accelerate industry digitalization. Poste Italiane will continue to benefit from full GPS visibility of trucks, automation technology and reduced CO2 emissions through vehicles powered by alternative fuels, as well as their increased utilization.
Commenting on the agreement, David Nothacker, CEO and Co-Founder of sennder, said:
“The partnership between Poste Italiane and sennder exemplifies the tremendous value that can be generated when a leading and established operator joins forces with a technology company. It is a true win-win relationship where Poste Italiane benefits from significant cost savings, our operations run more profitably and we achieve remarkable CO2 emission reduction through network optimization. This partnership is a testament to the power of innovation and collaboration in the logistics industry, setting a benchmark for future partnerships. We are proud to be at the forefront of this journey, delivering tangible benefits for all stakeholders in the industry.”
“Through advanced technology and cutting out middle-layers of subcontracting”, sennder says it has enabled thousands of small carriers to “efficiently and transparently” transport Poste Italiane’s loads, leading to “enhanced operational efficiency and streamlined logistics processes.”