Cycloon and bol.com completed the transaction this weekend for the strategic partnership in which bol.com has become a shareholder of Cycloon. The Authority for Consumers & Markets has given the necessary permission for this. This means that bol.com and Cycloon can work towards the first joint delivery of a bol.com package. This is expected to happen in the second half of this year. The parties jointly want to accelerate Cycloon's growth and share the ambition to make delivery more sustainable and social. Cycloon's current management will be continued and Cycloon's existing shareholders will remain involved as shareholders.
By collaborating with bol.com, Cycloon can substantially accelerate its mission to provide green and social services and create a future-proof position with strong growth opportunities in a competitive market. For bol.com and its sales partners, the majority interest ensures that a larger part of the packages can be delivered by bicycle, and the online retail platform wants to offer customers an even better service in delivery.
Green and social
Management and shareholders remain fully committed to Cycloon's social culture and sustainable mission to grow the organization and create new employment opportunities. Cycloon sends mail and parcels throughout the Netherlands for thousands of customers with its national network of bicycle couriers and postal deliverers. As a result, 1600 tons of CO2 are saved annually and 600 people with a (former) distance from the labor market are working at the company.
Cycloon will continue to deliver mail and parcels for current and new customers, and will also deliver parcels for bol.com. This concerns both packages from bol.com itself and packages from sales partners who store their items in bol.com's distribution centers. As part of the transaction, bol.com will also acquire the remaining shares in four years' time, subject to approval by the relevant competition authority. The parties also want Cycloon to continue to exist as an independent brand, according to the webshop.
Photo above: Bol.com image bank.
