What you must know about the Postman's latest acquisitions

SingPost has been busy acquiring stakes.

According to OCBC, in recent months, Singapore Post (SingPost) has been acquiring stakes in companies to build its non-mail businesses – it completed the 100% acquisition of General Storage Company Pte Ltd (GSC) in end Jan for S$37m and the 62.5% acquisition of Famous Holdings Pte Ltd (FH) in end Feb this year for S$60m.

GSC operates a self-storage business in Singapore, under the Lock+Store brand. This is not a new business area for SingPost, which has been offering self-storage solutions through S3 (Self Storage Solutions) since 2009.

Here's more from OCBC:

The acquisition will add storage facilities in Tanjong Pagar and Chai Chee for SingPost.

Meanwhile, FH is a Singapore- based sea freight consolidator and freight-forwarder. SingPost acquired a 62.5% stake, and there is also an option to transact the remaining 37.5% stake at the end of 2015.

Founded in 1988, FH has a regional network with offices in six countries.

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