Industry News

Singapore Post acquires Border Express

Singapore Post subsidiary, Freight Management Holdings, has acquired Border Express and has announced its intention to merge with sister company, CouriersPlease.

The conditional sales and purchase agreement with Border Express was completed today.

The moves will increase FMH Group’s revenue to over an estimated $1.3 billion and underscores FMH Group’s strategy of leveraging collaboration and integration to drive economies of scale, optimise operations and enhance the customer experience.

According to FMH Group, this positions the company for continued growth and increased competitiveness in the market.

“With the completion of the acquisition of Border Express and the planned merger with CouriersPlease, we are on a trajectory of significant growth, making the FMH Group a top five largest logistics company by revenue in Australia,” said FMH Group Group CEO, Simon Slagter.

“These decisions will not only expand our network but importantly, they will facilitate innovation and operational excellence.

“By combining our assets, scale and technology, we will be able to significantly improve efficiency and deliver value.”

Border Express and CouriersPlease will retain their own brand identities and employees under FMH Group, ensuring continuity for their valued team and customers.

Border Express Executive Director, Transformation, Mark Luff, said joining FMH Group is a strategic alignment that builds on Border Express’ success to date and will enable it to achieve the next phase of growth.

“As we embark on this new chapter, we are very positive about the opportunities it presents for our team and our customers,” he said.

“We look forward to combining forces and leveraging synergies to deliver enhanced value to our customers.”

CouriersPlease CEO, Richard Thame, said CouriersPlease’s merge with FMH Group signifies a practical step towards operational efficiency.

“Joining forces will allow us to pool talent and operational capability to deliver even greater value to customers and achieve shared success,” he said.

“We look forward to leveraging our individual strengths and enhancing our collective impact.”

The acquisition was first announced in November last year, when it was revealed that Freight Management Holdings had entered a conditional sale and purchase agreement with Border Express for a maximum purchase consideration of $210 million.

In other news, Qube officially opened a new $24 million common user supply base for Western Australia’s oil and gas industry in Karratha.

The post Singapore Post acquires Border Express appeared first on Trailer Magazine.

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