Mutares has successfully completed the acquisition of SRT Group from Geopost SA

• Provider of urban on-demand last mile delivery services for food, grocery, and retail players
• Revenues of over EUR 400 million in 2022
• New platform acquisition strengthening the Goods & Services segment and Mutares’ presence in the logistics and transport sector across Europe

Munich, November 30, 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of SRT Group (“Stuart”) from Geopost SA. The company will strengthen the Goods & Services segment as a new platform while further increasing Mutares’ presence in the logistics and transport sector across Europe.

Stuart is a European leader in urban on-demand delivery, especially in the food and groceries segments providing same-day and next-day delivery within a precise timeframe. Backed by a strong delivery network, the company operates in more than 100 major European cities, generating over EUR 400 million in revenues in 2022. Stuart’s revenue growth, particularly in the food segment, underlines the agility of the company’s teams to leverage its scalable business model. With the shift from platform to restaurant-to-consumer delivery, Stuart is ideally positioned to address a larger share of the market while instantly meeting the needs of different segments and balancing supply and demand.

Mutares has a clear goal to grow Stuart’s business with its strong focus on sustainable delivery solutions in metropolitan environments and further strengthening the company’s competitive position by further diversifying its revenue streams and ensuring that the company is right-sized to competitively address its B2B customers.