SingPost has announced its acquisition of TradeGlobal, an e-commerce provider of fashion, beauty and lifestyle brands for $168.6 million. It will acquire 96.3% stake of TradeGlobal Holdings from TradeGlobal Parent LLC as a strategic move to expand its e-commerce footprint.
Headquartered in Cincinnati, TradeGlobal is a well-known global omni-channel solutions provide which offers end-to-end e-commerce offerings for the world’s leading fashion, beauty and lifestyle brands. IT combines website development, digital marketing strategies, omni-channel fulfillment, supply chain logistics and customer care across domestic and international boundaries to create smooth brand experience. The company operates in North America, Asia and the UK to assist the emerging business to evolve and established business to do better.
The acquisition strengthens SingPost’s influence and market knowledge in Singapore and Asia-PAcific region and TradeGlobal’s expertise in the e-commerce sector to create a true end-to-end e-commerce solution with no geographic boundaries. By integrating the companies resources, technologies and expertise, the companies can empower a unified global supply chain and commerce strategy for brands seeking expansion across North America, Asia and Europe.
With the closure of the deal, SingPost’s clients in the Asia-Pacific can widen their business in the US, while TradeGlobal’s customers will have access to the fast growing e-commerce market in the region. CEO of SingPost, Wolfgang Baier said, “It is connecting the dots to become a digital company. We are a global player.”
Marcelo Wesseler, CEO of SP eCommerce said, “With a stories history of success in Singapore and Asia, the acquisition of TradeGlobal positions us to provide our clients with the global scale and service offering they require for sustained growth. Our clients will now have a single, global platform to serve their e-commerce customers. This is a very exciting merger of two companies with common vision and cultures.”
SingPost is highly regarded throughout Asia as the key provider of innovative and reliable logistics services,” said Dave Cook, Executive Chairman of TradeGlobal. “This acquisition not only allows us to market our combined competencies to a broader and more diversified client base, but it also paves the way toward the future of global commerce and logistics services.”
TradeGlobal is the second American e-commerce firm that SingPost has invested in. Last week, SingPost announced its acquisition of 71.1% stake in Jagged Peak, a e-commerce logistics firm for $15.8 million.