Bulgaria’s euShipments acquires Romanian e-fulfilment co Helpship

Bulgaria's euShipments acquires Romanian e-fulfilment co Helpship

Bulgarian e-commerce logistics services provider euShipments announced on Tuesday that it has made its second acquisition by acquiring a majority stake in Romanian e-services provider Helpship.

This strategic move aims to strengthen euShipments‘ position and service offering in Romania and Central Europe, taking advantage of the country’s geographically advantageous location and its booming online sales sector in recent years. Details on the financial aspects of the deal were not disclosed in the euShipments press release.

The acquisition also enables Helpship to fulfil e-commerce cross-border deliveries from any e-shop address in Romania, regardless of its location.

The deal is part of a broader mergers and acquisitions (M&A) strategy to internationalise euShipments by establishing leading positions in key markets in the Central and Eastern Europe. This expansion strategy is backed by Sofia-based private equity firm BlackPeak Capital, which in early 2022 invested up to 7.5 million euro ($8 million) in the Bulgarian logistics firm from its second fund, BlackPeak Southeast Europe Growth Equity Fund.

“The business ideology of euShipments.com is to solve the logistics problems of online merchants. Therefore, it is important for us to follow the path of shipments and improve our operations in strategic places. Helpship as a high-quality fulfilment operator, together with its extremely favourable location, is a perfect fit for our business development purposes. With the financial support and mentorship of BlackPeak Capital, this acquisition allows us to position ourselves strongly “at the gateway between Eastern and Western Europe“, which is an invaluable advantage for our international eCommerce customers,” euShipments co-founder and CEO Svetlozar Dimitrov said.

Founded in 2019, Helpship is a fulfilment service provider with a warehouse in Oradea, Romania, close to the Romanian-Hungarian border. The company handles over 80,000 online orders per month.

Ruse-based euShipments operates 12 fulfilment centres and has a network across 27 European countries, enabling faster delivery times and reduced prices for online stores in Central Europe. At the end of last year, the company acquired a majority stake in Croatian fulfilment and logistics company Pick & Pack.