SingPost snatches small parcel delivery business from New Zealand Post

The deal is worth $105m.

SingPost is s turning itself into an e-commerce heabyweight one acquisition at a time. The Postman today announced that it is acquiring a small parcel delivery business in Australia for a total consideration of $105m (A$95m).

SingPost’s subsidiary Quantium Solutions will acquire the entire interest of Couriers Please from New Zealand Post. Couriers Please is one of Australia’s leading metropolitan small parcel delivery business.

According to OCBC, the move is in line with SingPost’s objective of building regional ecommerce delivery networks as a key component to its logistics growth.

“This will help in SingPost’s aim to roll out end-to-end solutions across ecommerce, forwarding, warehousing and delivery in Australia,” stated OCBC.

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