Yodel has sold its stake in click and collect service CollectPlus as it continues its focus on profitability.
The courier firm has sold its 50% stake in the service to PayPoint, which offers payment services for physical stores. Yodel and PayPoint jointly set up Collect+, which operates a network of third party points where customers can collect online orders or drop off returns, in 2009.
Yodel will remain as a parcel carrier for CollectPlus for several years, under the terms of a new multi-year contract.
Nick Wiles, executive chairman of PayPoint, said: “This is an extremely important moment for Collect+ which has grown substantially to become the UKs biggest parcel network working with major carriers such as DHL, FedEx and Yodel and retail giants such as Amazon and eBay.
“We look forward to continuing to work closely with Yodel on behalf of our retailers and the millions of customers who rely on the Collect+ service.
“There is substantial opportunity for further expansion – both in terms of the partners we work with and the numbers of outlets we have. We are very excited about the future of Collect+.”
Yodel declined to comment on the news. Yodel CEO Mike Hancox, who took over the business in October last year, told eDelivery in an interview at the time that he was primarily focused on making the business profitable. He indicated that the company would be focusing on offering a wide range of options for retailers rather than building a consumer brand. The sale may be a sign that Yodel doesn’t view the third-party click and collect model as a huge priority for its retailer customers.