Mutares Acquires Stuart, Bolstering Last-Mile Delivery Innovation
On November 30, 2023, SRT Group, the parent company of Stuart, a leading last-mile delivery platform, announced its acquisition by Munich-based private equity holding company Mutares from Geopost. Stuart, founded in Paris in 2015, has experienced remarkable growth in on-demand food and grocery delivery, generating over EUR 400 million in revenues in 2022 and expanding its scalable model to over 100 cities across Europe to meet the increasing demand from consumers.
Mutares, known for its expertise in strengthening market-leading platforms, particularly with a focus on sustainability and optimizing operations, sees this acquisition as a strategic opportunity to accelerate Stuart’s sustainable delivery offerings across various sectors. The goal is to diversify revenue streams and streamline services for Stuart’s customers, solidifying its competitive position in the on-demand urban delivery landscape.
Cornelia Raportaru, CEO of Stuart, expressed excitement about the partnership with Mutares, stating, “We’re thrilled to start this new chapter with Mutares, driving the future of urban delivery. 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.”
This acquisition not only marks a significant moment for Stuart but also highlights the collaborative efforts of two industry leaders striving to shape the future of last-mile delivery with a strong emphasis on sustainability and customer service. The expertise brought by Mutares is expected to play a crucial role in propelling Stuart to new heights in the competitive landscape of on-demand urban delivery.