Hong Kong-based freight group Tigers, majority-owned by La Poste division GeoPost, is expanding in the UK following its recent takeover of Signet International.
Tigers, which is expanding internationally as part of GeoPost’s worldwide growth strategy, paid €10 million for the British company, the French postal group disclosed yesterday in its half-year results.
GeoPost bought a 63.75% majority stake in the well-known Hong Kong firm in 2013. CEO Paul-Marie Chavanne told CEP-Research in an interview earlier this year that GeoPost wants to expand its freight forwarding capabilities, describing Tigers as “a platform for organic growth and also acquisitions”.
The Hong Kong-based company, which offers worldwide air and ocean freight forwarding through a network of branches and partners, has already made other acquisitions in recent months, including WorldLink, a Western Australian logistics firm, Melbourne-based logistics firm Supply-LINQ, and South African freight forwarder LWW.
Tigers said in a press release announcing the acquisition of Signet International that the $30 million niche market logistics group and its existing UK operations would trade in future under the Tigers name and continue to be headquartered in London where Tigers have their European regional office. Signet has operations in Felixstowe, Banbury and Cardiff, and their London operation is located in Slough near to Heathrow airport.
“Signet is a strong niche player that provides Tigers with an expanded UK footprint, improved forwarding abilities and excellent single channel fulfilment capabilities. We are delighted to have the Signet team joining Tigers,” said Andrew Jillings, the Tigers CEO. “We continue to view the UK as a key market long term and remain focused on building this important region.”
Anthony Hooey, the CEO and former owner of Signet, commented: “We are delighted to be joining Tigers which will enable us to offer an expanded range of logistics services to our customers whilst at the same time provide a greater opportunity for our excellent team of logistics professionals to grow and develop within an exciting global team. A key part of the decision to join Tigers is that both companies share a very similar corporate culture and passion for customer service.
“In particular Tigers’ expansion into e-commerce fulfilment with their e-Tigers B2C product will offer many benefits for our existing customers. Their extensive presence in China, the USA, Australia and South Africa will also be very beneficial”.
Tigers, with facilities across the United States, Europe, the Asia Pacific and South Africa, is a $800 million company headquartered in Hong Kong specializing in global supply chain solutions including B2C e-fulfilment services, perishable cargo and B2B freight management enabled by leading edge information technology.
