Last-mile Specialist Acquired

4th December 2023

Logistics BusinessLast-mile Specialist Acquired

SRT Group, parent company of leading last-mile specialist delivery platform Stuart, announced on Thursday, 30th November 2023, its acquisition by Munich-based private equity holding company Mutares from Geopost.

Founded in Paris in 2015, Stuart has experienced rapid growth in on-demand food and grocery delivery. Generating over EUR 400 million in revenues in 2022, Stuart’s scalable model has been replicated in over 100 cities across Europe to meet rising consumer demand.

Mutares’ expertise presents a pivotal opportunity to further accelerate Stuart’s sustainable delivery offering across sectors by diversifying revenue streams and streamlining its offerings for its customers.

Last-mile Specialist

Mutares brings extensive experience strengthening market-leading platforms across industries. With a clear focus on sustainability and right-sizing operations, this acquisition aims to further cement Stuart’s competitive position for on-demand urban delivery.

“We’re thrilled to start this new chapter with Mutares, driving the future of urban delivery,” said Cornelia Raportaru (pictured), CEO of Stuart. “As leaders in tech-enabled logistics, Stuart and Mutares share an ambition to pragmatically grow our business while remaining committed to serving customers and reducing environmental impact. We look forward to pioneering ever-more innovative delivery solutions.”

Stuart is a tech logistics company for urban delivery, founded in Paris in 2015. Committed to providing logistics for a sustainable world, Stuart connects businesses of all sizes to high-quality independent couriers to offer delivery built on precision, speed, and flexibility. This is powered by logistics technology and operational expertise, allowing global retailers and local businesses to meet their customers’ needs for on-demand, same-day, and next-day delivery. Stuart currently operates millions of deliveries every month across over 100 cities in the UK, France, Spain, Portugal, Poland and Italy.