Seventh acquisition in 2023: Mutares has sent an irrevocable offer to acquire SRT Group

• New platform acquisition for the Goods & Services segment
• Generated revenues over EUR 400 million in 2022
• Provider of urban on-demand delivery services for food, grocery, and retail players

Munich, September 18, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has sent an irrevocable offer to acquire SRT Group (“Stuart”) from Geopost SA. The company will strengthen Mutares’ presence in the logistics and transport sector across Europe. The transaction is expected to close before the end of 2023. The project is still subject to consultation with the relevant work councils, and subject to authorization by the responsible control and governance bodies.

Stuart operates in more than 100 major European cities generating over EUR 400 million in revenues. The company is a European leader in urban on-demand delivery, especially in the food and groceries segments. Stuart builds upon an innovative business model that instantly meets the needs of different customer segments and thus balances supply and demand by delivering directly from shops or restaurants to the end customer’s home. Stuart’s revenue growth, particularly in the food segment, underlines the agility of the company’s teams.

Johannes Laumann, CIO of Mutares, comments: “With Stuart, we are adding a new, high-growth platform to the Mutares portfolio. The company not only strengthens our deep expertise in transportation and logistics, but also allows us to enter the growing segment of urban on-demand deliveries. Together with Stuart’s management and partners, the Mutares operations teams will continue to grow the business with its strong focus on sustainable delivery solutions in metropolitan environments. This acquisition marks another important step to achieving our Mutares Group revenue targets for 2025.”