Czech billionaire Kretinsky to invest 60 million euros into DoDo logistics firm

PRAGUE Reuters – Czech billionaire Daniel Kretinsky will invest 60 million euros 63.16 million into logistics firm DoDo over the next two years to support its international expansion, the company said on Tuesday.

DoDo was founded in 2015 and provides fast delivery services to customers in ecommerce, retail and food delivery. It aims to double its revenues yearonyear to 2 billion crowns 85.36 million in 2022, and the planned growth should be driven by markets outside the Czech Republic.

The group, majorityowned by its Czech founder, Michal Mensik, has 2,000 couriers operating in seven European countries, including Germany, Poland and Hungary.

Kretinsky earned his fortune by building his energy group EPH into a major player in Europe, buying up unwanted coal power plants before expanding into other energy sources.

He has expanded his business and geographical footprint in recent years with investments in French media and retail, in German wholesale retailer Metro, and in the Royal Mail and Sainsburys in the UK.