Logistics provider LBC Group has boosted its logistics backbone with the acquisition of an affiliate digital solutions company and a strategic investment in a freight forwarding, cargo handling and management company.
LBC Express Holdings Inc. disclosed on Tuesday the acquisition of 86.11 percent of QuadX Inc. – the company behind growing digital platforms such as Shipping Cart and Check Me Out – through the subscription to new shares worth of P186.02 million.
Separately, LBC announced the acquisition of 30 percent of Orient Freight International Inc., (OFII) a 44-year-old freight forwarding, cargo handling and management company, for P218.83 million.
“Our vision for the next few years is to pave the way for digital logistics in the Philippines, and continue to lead the industry,” said Mike Camahort, chief executive officer of LBC Express Holdings, commenting on the acquisition of QuadX.
This move is seen as a continuation of LBC Express Holdings’ plan to consolidate affiliate businesses both within the Philippines and across the globe.
“It’s a very exciting time in logistics, and there’s much to do quickly in order to be constantly, globally competitive– everything is now in “real time”; getting into digital is definitely a must,” Camahort added.
Quad’s ShippingCart ( www.shippingcart.com ), created in 2015, is the fastest growing cross-border, web-based shipping and delivery service from the U.S. to the Philippines. Its easy-to-use interface and system, allows customers to make online purchases in the U.S. by assigning a mailing address and receiving, repacking and consolidating these purchases, then sending them through to customers in the Philippines either by sea or air cargo, whichever the customer’s preference.
Created in 2016, CheckMeOut ( www.checkmeout.ph ) is a payment and delivery platform that makes online selling accessible to all sellers and entrepreneurs. It offers an integrated multi-payment platform, and a pick-up and delivery service. Its growing customer base includes individuals wanting to sell their personal items, to small- and medium- enterprises seeking a reliable bundled payment and delivery fulfilment service, the first of its kind in the country.
In the second half of this year, QuadX is poised to launch two new services: XPOST and XPAY. XPost is an on-demand, online fulfillment platform that enables sellers to move their goods from the comforts of their homes or businesses while XPAY is a cashless fund management and payment solution that offers instant, versatile, and secure digital payment instruments.
The deal to acquire 30 percent of OFII is likewise a “strategic investment” for LBC,” Camahort said.
Orient Freight, a leading freight forwarder and cargo handler in the Philippines and Southeast Asia, offers air freight, sea freight, land transport, container yard, customs clearance, container freight station, logistics management, warehousing and domestic distribution services. It currently operates domestic offices and facilities in Manila, Clark, Cavite, Bataan, Laguna, Batangas, Subic, Cebu, Cagayan de Oro, Davao, and Zamboanga.
Globally, is a partner of Hellmann Worldwide Logistics, providing an international network of 437 branches in 162 countries.