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Globavend Holdings Announces MOU to Acquire Top Logistics, a Key One-stop Logistics Solutions Provider in Australia
Globavend Globavend (US:GVH) globenewswire.comยท2024-05-29 12:30

Core Viewpoint - Globavend Holdings Limited has entered into a non-binding Memorandum of Understanding to invest in Top Logistics Australia Pty Ltd, aiming to enhance its business presence in Australia and capitalize on the growing e-commerce market [1][3]. Company Overview - Globavend Holdings Limited is an emerging e-commerce logistics provider offering end-to-end logistics solutions in Hong Kong, Australia, and New Zealand, primarily serving enterprise customers in B2C transactions [4]. Market Context - The 2024 Australian Post eCommerce Industry Report indicates that 80% of Australian households shopped online in 2023, with 9.5 million households receiving parcels. Australians spent AUD 63.6 billion (approximately USD 42.4 billion) on online shopping in 2023 [3]. Target Company Overview - Top Logistics Australia Pty Ltd is a full-service logistics provider based in Sydney, with warehouses in Sydney, Melbourne, and Brisbane, covering over 15,000 square meters. It specializes in various logistics services, including sea and air freight, customs clearance, and warehousing [2].