Quadient: share price rises after US acquisition

(CercleFinance.com) - Quadient shares gained over 3% late Wednesday morning on the Paris Bourse after the French group announced the acquisition of American package management specialist Package Concierge.


With this operation, Quadient reports that it will pass the milestone of 25,000 lockers installed worldwide, putting it well on the way to surpassing its target of 100 million euros in locker-related revenues by 2025.

As part of its 'Elevate to 2030' strategic plan, announced earlier this year, Quadient aims to accelerate its growth trajectory to generate more than one billion euros in recurring revenues by 2030.

The group also recalls that it is targeting 40,000 installed lockers by 2030.

Headquartered in Manhattan (Kansas), Package Concierge deploys its equipment in residential and commercial buildings, stores and universities, with a strong presence in the Northeastern states.

At 11:45 a.m., the share gained over 3%, compared with a 0.3% gain at the same time for the Paris market, after having gained over 6% at the very start of the session.

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