Globavend Holdings to Invest in Top Logistics Australia to Strengthen E-Commerce Presence

Summary

Globavend Holdings Limited (Nasdaq: GVH), an emerging e-commerce logistics provider, has announced a non-binding Memorandum of Understanding (MOU) to invest in Top Logistics Australia Pty Ltd. This strategic move aims to expand Globavend’s footprint in the Australian market.

Under the MOU, Globavend plans to make an equity investment in Top Logistics, contingent on certain conditions being met and subject to further discussions and due diligence. Top Logistics, headquartered in Sydney, is a prominent full-service logistics provider with a significant presence in Australia. The company operates warehouses in Sydney, Melbourne, and Brisbane, encompassing over 15,000 square meters. Their services include sea and air freight, import and customs clearance, cargo deconsolidation, packing and fulfillment, transport, logistics, and warehousing.

Wai Yiu Yau, CEO of Globavend, stated, “The proposed transaction aligns with Globavend’s strategy to solidify its business presence and expansion into Australia. According to the 2024 Australian Post eCommerce Industry Report, 8 in 10 Australian households shopped online in 2023, with 9.5 million households receiving parcels. Australians spent AUD 63.6 billion (approximately USD 42.4 billion) online in 2023. Given Top Logistics' strong market presence, we believe this investment will enhance our business performance and support our future growth.”

About Globavend Holdings Limited

Globavend Holdings Limited is an emerging e-commerce logistics provider offering end-to-end logistics solutions in Hong Kong, Australia, and New Zealand. The company primarily serves enterprise customers, including e-commerce merchants and platform operators, facilitating business-to-consumer (B2C) transactions. Globavend’s integrated cross-border logistics services range from pre-carriage parcel drop-off to parcel consolidation, air-freight forwarding, customs clearance, on-carriage transportation, and delivery.