The Dutch retailer currently holds the majority of the shares in Cycloon, and is expected to acquire the remaining shares in the business by the end of July.
Cycloon operates a network of bicycle couriers across the Netherlands, delivering mail and parcels for thousands of customers via cargo bike, an emission-free alternative to other modes of transport.
Bol.com first announced a partnership in December 2021, with the online retailer acquiring a majority stake in Cycloon a few months later. Cycloon delivered its first parcel for Bol.com in September of last year.
"Moving towards a sustainable and socially responsible last mile is crucial for the future of e-commerce and we are working closely with all our carriers to achieve this," commented Vincent Weijers, COO of Bol.com.
"In this, we are continuously looking at how we can further reduce our CO2 emissions. And intensifying our cooperation with Cycloon plays an important role in this."
As a result of the move, the current CEO of Cycloon, Marieke Snoek, will step down from her position to take up another role on the executive board. Elsewhere, COO Nick Vreeswijk will hand over his activities to a new operations director.
Commenting, Snoek said, "This is the logical next step for Cycloon. We started Cycloon because delivery can be done differently: more sustainable and more social. I am confident that with bol.com we will continue our social and sustainable mission and we will expand our social impact even further."
It was initially planned that bol.com would acquire the remaining shares in Cycloon in 2026, however the retailer has brought this forward, as it is eager to 'enable Cycloon to scale up faster', it said in a statement.
The transaction is subject to customary conditions, including approval from the Dutch Consumer & Market Authority.