Singapore Post Acquires TradeGlobal, Expands e-Commerce Services
Singapore Post has agreed to acquire TradeGlobal Holdings, a company based in Cincinnati that provides e-commerce and logistics services, from the investment firm Bregal Sagemount for $168.6 million.
The deal is part of a push by the Singapore-based postal carrier to become a global e-commerce logistics provider.
On Oct. 9, SingPost acquired a majority stake in Jagged Peak Inc., a company that provides logistics services for high-velocity consumer goods through 20 warehouses in the United States.
The company also recently announced plans to develop an unmanned aerial vehicle to deliver mail and packages in Singapore and elsewhere in the world.
Founded in 2001, TradeGlobal provides digital marketing, product fulfillment and customer service for companies selling fashion, beauty and lifestyle-branded products online in North America, Asia and the United Kingdom.
TradeGlobal founders Dave Cook and Dave Eckley will continue to serve as executives and shareholders of the company.
Marcelo Wesseler, CEO of SingPost eCommerce, said the combination of TradeGlobal’s e-commerce platforms and warehouses will create a one-stop global solution for retailers selling online.
“Full service e-commerce solutions have traditionally been geographically confined,” Wesseler said. “This acquisition strengthens our e-commerce logistics platform by enhancing our scalability and capabilities, for example, to handle major surges in traffic and transactions during peak shopping seasons.”
