Singapore Post buys UK freight forwarder

Singapore Post, through its subsidiary, Famous Holdings, has purchased the entire issued and paid-up share capital of UK freight forwarding firm, F.S. Mackenzie, worth up to seven million pounds (US$11.8 million).


Singapore Post buys UK freight forwarder


Singapore Post, through its subsidiary, Famous Holdings, has purchased the entire issued and paid-up share capital of UK freight forwarding firm, F.S. Mackenzie, worth up to seven million pounds (US$11.8 million). The UKbased freight forwarder and non vessel operating common carrier (NVOCC) focuses primarily on sea, air and road freight forwarding, together with customs clearance for inbound and outbound shipments from the UK. Headquartered in Basildon, east of London, it has four other operational centres across the UK.

Singapore Post says that the acquisition will help it to establish an entry point into the Western European freight market and strengthen its ability to provide customers with integrated ecommerce logistics solutions, which complement its existing postal and parcel networks.

Alfred Stienen, who will remain group chairman of F.S. Mackenzie, says that the sale will allow the UK company to broaden its freight network through the support of a financially strong parent company.