CDIB Capital Invests in Leading IT-Driven Integrated Logistics Company in China
Tuesday, May 03, 2016
(Press Release) – CDIB Capital is pleased to announce that it closed, together with its co-investors, a US$45 million investment in Best Logistics Technologies Limited (“Best Logistics”), a leading IT-driven integrated logistics and supply chain management service provider in China.
Established in 2007, Best Logistics has become one of the few industries players that provide customers with a full range of logistic services – from express and freight to integrated supply chain management. The Company has an extensive nationwide coverage in China. The ecosystem is supported by sophisticated IT capabilities and an asset-light operating model, which are key competitive advantages of Best Logistics.
Driven by the digital revolution, China’s e-commerce culture is being adopted at a much faster rate than previously expected. The boom of China’s e-commerce is a key catalyst of growth for the logistics industry, as online merchants need a reliable logistics partner with the capacity and capability to provide value-added services for end-customers.
Since inception, Best Logistics has been backed by reputable strategic investors such as, Alibaba Group and Foxconn. The capital investment from CDIB Capital and other co-investors will allow the Company to expand core operations and develop adjacent business initiatives to successfully monetize on China e-commerce growth, logistic sector consolidation and long-term outsourcing trends.
“We're extremely pleased to close this new round of financing with an incredibly strong group of strategic and financial investors such as CDIB Capital which will further expand our regional reach and capabilities” said Johnny Chou, Founder and CEO of Best Logistics.
“In a short period of time, Best Logistics has established itself as an industry leader at the forefront of logistics technology” said Lionel de Saint-Exupery, President and CEO of CDIB Capital. “We've been impressed by the company's ability to provide complex turn-key logistic solutions across the country and beyond. Best Logistics, successfully led by Johnny Chou and his talented team, is bound to keep enjoying significant growth on the back of the rapid adoption of e-commerce in China and the continuous outsourcing of non-core functions such as logistics by corporates seeking cost efficiencies without compromising quality of service”.
