Parcel delivery business, Evri, is set to be sold to a private equity firm.

It is expected to be sold to Apollo for £2.7bn, after being put up for sale by owner Advent International, as reported by Retail Gazette.

Asset management company, Advent, has invested nearly £200m in the business since it snapped it up in 2020. It has reportedly tripled in size in five years.

Earlier this month, China's biggest online retailer JD.com was said to be in talks about buying the business, which was formerly known as Hermes.