J&T Express acquires SF Express subsidiary for RMB1.18 billion

J&T Express, a global logistics service provider headquartered in Indonesia, announced the signing of a Share Transfer Agreement with Shenzhen Fengwang Holdings, a subsidiary of S.F. Holding Co., Ltd. under the agreement, J&T Express will pay RMB1.183 billion for 100% ownership of Fengwang Holding's wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd.

This transaction is subject to several conditions, including the State Administration's examination of concentrations of undertakings for market regulation and the transaction consideration being settled in a timely manner in accordance with the share transfer agreement.

This comes as both companies note that the resources of both parties are complementary, which will aid in the transaction's smooth transition. With the acquisition, S.F. can devote more resources to the expansion of its core businesses, which include domestic mid-to-high-end express, international express, global supply chain services, and digital supply chain services. Meanwhile, S.F. will continue to develop e-commerce express delivery products and services to meet the diverse needs of high-end express delivery customers. 

As part of its focus on the eCommerce express delivery service industry, J&T Express has stated its commitment to continuously optimise its service experience. J&T Express's integrated service capabilities will also be enhanced as a result of this acquisition.

According to J&T Express, this move is expected to foster high-quality industry development, allowing it to increase its competitive advantage in the e-commerce delivery sector and contribute to the industry's high-quality development.

MARKETING-INTERACTIVE has reached out to J&T Express for more information.

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Since its entry into the Chinese market in 2020, J&T Express has made significant strides in the eCommerce express delivery sector.  In late 2021, the company successfully acquired Best Inc.'s express business in China at a price of RMB1.1 billion. According to the Best Inc., the acquisition allowed them to “better capitalise on their strengths by focusing on supply chain-based logistics solutions and providing integrated supply chain, freight and global logistics services to their customers”.

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