GeoPost buys majority stake in Resto In
GeoPost has bought an 80% stake in Resto In, the France-based virtual market place for restaurants offering home delivery services. In a statement issued on 29 October, Le Groupe La Poste, the parent company of GeoPost, commented: “The food e-commerce market, which is currently booming in France and Europe, is a real opportunity for GeoPost to diversify. All sector stakeholders, from non-specialised groups to start ups focusing on city centre delivery and mass retail companies, are all fighting to establish a foothold in this market.”
The statement added: “Created in 2006 and well known in its sector (restaurant market place with delivery service), Resto In has created services offering added value to customers, with a young and dynamic team.
“This investment in Resto In constitutes the second stage of GeoPost’s development in the food industry. Chronopost, France’s leading specialist for express delivery of parcels weighing up to 30kg to businesses and individual customers, has in fact been offering next-day before 1pm express delivery solutions for dried, fresh and frozen food products anywhere in France for several months now.”
At the end of 2014, the managers of Resto In created a new business called Stuart, which focuses on “urgent urban delivery services” and has developed a mobile application for stores and businesses who need to deliver parcels to specific locations in less than an hour. As part of the Resto In deal, GeoPost will take a minority stake in Stuart and support its development.
“This minority stake, alongside the founders of Resto In, will allow La Poste to test the urgent urban delivery market, in addition to the Group’s delivery rounds,” according to the statement from Le Groupe La Poste.