A NATIONAL delivery firm with a large Warrington distribution hub has been saved in a last-minute rescue deal by a consortium led by rival.

News over recent days reported that Yodel ‘could call in administrators’, with talks over the future of the company in the ‘final stages’.

The firm has between 10,000 and 12,000 employees across the country, depending on the season, and it operates a large site on Clayton Road in Risley.

However, an announcement today has confirmed that Yodel has been acquired by YDLGP, a newly formed company, for an undisclosed amount.

YDLGP is backed by a consortium of investors including Solano Partners, an independent boutique investment bank who also advised on the acquisition, as well as the leadership team behind Shift, the rapidly growing UK-based logistics platform.

The move will safeguard the future of ‘thousands of UK jobs’ at Yodel, the new buyers said.

Mike Hancox, CEO of Yodel: “We are extremely excited to begin the next chapter of Yodel’s journey, leveraging the scale of our business with the support of new shareholders and the future benefits of the Shift technology platform.

“Our customers have always been our priority, and the transaction announced today allows us to ensure continuity for them, as well as our employees and wider stakeholders.”

Jon Edirmanasinghe, founding partner of Solano, added: “We believe there is a fantastic opportunity to harness the strong brand and scale of Yodel in the UK and take further market share.”

Yodel, one of the largest delivery firms in the country, delivered close to 200million parcels this past year, working with businesses including JD Sports, Argos and Zara.

Also working with very.co.uk, Wren Kitchens and Gousto, it has 47 customer delivery depots and three sortation hubs nationally.

For the year ending December 31, 2023, Yodel generated £561.8million in revenue.