Sir Terry, who as chief executive of Tesco [IRDX RTSC] for 14 years until March, took the supermarket into international markets, says he sees a future for MetaPack as a “leading global player”. He has taken a 10% stake in the company and is investing alongside William Currie Group and Artemis. He will also advise chief executive and co-founder Patrick Wall and chief operating officer Karl Wills.
Sir Terry said: “For 10 years MetaPack has been innovating and leading the field to help improve delivery and customer services in the important growth area of ecommerce. It will extend its services to retailer by providing industry-based information on ecommerce trends, delivery standards and even fraud analysis.
“The company has a great future ahead of it and one day I would like to see it as a leading global player.”
Meanwhile MetaPack chief executive Patrick Wall says the new money will allow the business to develop its presence in Europe and beyond. It will also help it expand the services that it offers to UK retailers.
Wall said: “We’re now the preferred ecommerce delivery management player in the UK retail sector. This new investment, and Sir Terry’s arrival, will give us the resources and expertise to capitalise further on our market leadership in Europe and beyond.”
MetaPack was founded in 1999 and works with UK parcel carriers to provide its delivery management system to multichannel and ecommerce retailers. Users of the technology include John Lewis [IRDX RJLW], M&S [IRDX RMAS] and Asos [IRDX RASO]. MetaPack has grown three-fold since 2007, when it invested in on-demand technology.