J Holdings has entered into an agreement for the acquisition of a significant stake in MOVE Express & Logistics (MOVEX), a technologically enabled third-party logistics service provider (3PL) providing courier and last-mile delivery services.
The move is aimed at serving Pakistan’s budding ecommerce vertical and corporate business entities, as well as consumers in the country.
With the rise of ecommerce and online deliveries, the agreement will cater to Pakistan’s different sectors including agricultural trading, construction, government sales, logistics, power generation and warehousing.
Over the last 70 years, J Holdings Private Limited has been investing in a diverse set of dynamic and growth-oriented businesses, with focus on creating value for stakeholders, building expertise within the logistics sector.
It is primarily involved in the movement of bulk cargoes, which includes transportation of sensitive liquids, as well as agricultural commodities, steel, project cargoes and other complex shipments. The company has gradually amassed one of Pakistan’s largest aluminium bowser fleets, and has a mix of other asset classes, all hauled by latest generation prime movers.
In addition, its exposure to the logistics business also includes BILTY, an online marketplace, matching freight providers with shippers through an easy-to-use application that adds transparency and liquidity to opaque markets while improving supply-chain visibility.
J Holdings’ latest investment in the sector through its agreement with MOVEX positions it to offer last-mile delivery, as well as the complete gambit of 3PL e-commerce fulfilment services including transportation, warehousing & payment solutions. Through this venture, J Holdings aims to resolve Pakistan’s supply-chain issues that were stretched by the Covid-19 pandemic, by providing a complete suite of courier, cargo, parcel and bulk transportation services, warehousing and fulfilment facilities to its customers.
The acquisition is expected to expand J Holdings portfolio, by having complementary facilities in house, and thereby adding supply chain efficiency and increasing productivity to help support the client’s business growth.
J Holdings said that “it is pleased to be able to welcome MOVEX CEO Shafiq Malik, with his over 25 years of logistics experience, and the company to the family and to support them in their effort to revolutionise this growing space through the use of technology, operational efficiency and a focus on customer service”.
MOVEX, since its founding over 10 months ago, has made its place amongst the top 10 3PLs of Pakistan. They have over 30 operational hubs, serving 240 cities and town, catering to the needs of 2,200-plus customers from diverse segments, and delivering around 10,000 packages daily across Pakistan.
Malik said the company is excited “on our partnership with J Holdings”, and plans to invest Rs500 million in the operational infrastructure expansion.
“We are surely to benefit from the diverse exposure of business expansion they bring in and believe it will strengthen our overall capability in serving our customers with end-to-end supply chain solutions.
“In just 10 months as a 3PL, MOVEX has succesfully made its place in top 10 3PLs of Pakistan. With its 30 operational hubs, serving 240 cities and towns, Movex has been catering to the needs of 2,200+ plus customers from diverse segments like Fashion, Telecom, Market Places, Electronics, Manufacturing, Food and Medical/Surgical Industry, delivering around 10,000 packages daily across length and breadth of Pakistan.
“MOVEX is expanding rapidly by virtue of this investment. Shortly, we are planning to invest Rs500 million in our operational infrastructure expansion, technology suite upgradation, process automation and human resource in order to diversify our service offering. We have an aim to become one of the top 3PLs in the country, delivering best experience to our ever-growing customer base.”
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