DHL obtains partial ownership in logistics enterprise Ajex, based in Saudi Arabia.
DHL eCommerce, a leading player in the international parcel sector, has recently made a strategic move into the rapidly growing Saudi Arabian e-commerce market by acquiring a minority stake in Ajex, a local parcel logistics company [2][3]. Although the specific financial details and the exact size of the stake were not disclosed, the deal marks DHL eCommerce’s first entry into Saudi Arabia.
Ajex, which began operations in 2021 as part of Ajlan & Bros Holding, is a significant player in the domestic parcel sector, employing 1,500 team members and operating over 50 facilities with a fleet of more than 900 vehicles for parcel processing and delivery [4].
The partnership between DHL eCommerce and Ajex aims to deliver reliable, affordable, and sustainable delivery solutions, aligning with Saudi Arabia’s Vision 2030 initiative and its focus on logistics as a key growth pillar [1][6]. Pablo Ciano, CEO of DHL Ecommerce, stated that the partnership aligns with the country's ambitions to develop as a digital and logistics hub in the region [1].
Ajlan Bin Mohammed Al Ajlan, Group Managing Director of Ajlan & Bros Holding, which owns Ajex, believes the partnership with DHL eCommerce will help meet future demand and support the company's expansion plans across GCC countries, including Qatar, Oman, and Kuwait [4].
In addition, DHL eCommerce will contribute its expertise in the international parcel sector and have representation on the management board. The company also secured an option to increase its interest to a majority stake in Ajex in the future [3].
The growing e-commerce market in Saudi Arabia is driving expansion in the domestic parcel sector at double-digit rates, creating a fertile ground for investments like this one [7]. The acquisition is expected to strengthen Ajex's position in the market and support the growth of e-commerce in the region.
The deal is a significant step for both companies, marking DHL eCommerce's entry into the Saudi Arabian market and Ajex's continued growth and expansion under the leadership of AJEX and in partnership with DHL eCommerce.
References:
- DHL eCommerce acquires minority stake in Ajex
- DHL eCommerce expands into Saudi Arabia with Ajex investment
- DHL eCommerce to boost Saudi e-commerce with Ajex investment
- Ajex expands B2C parcel services across GCC countries
- Saudi Arabia's Vision 2030: The growing e-commerce market
- Saudi Arabia's Vision 2030: Logistics as a key growth pillar
- E-commerce growth driving expansion in Saudi Arabia's parcel sector
The strategic move by DHL eCommerce into the Saudi Arabian e-commerce market, as evidenced by their acquisition of a minority stake in Ajex, hints at an expansion in the business sector, specifically in the international parcel industry and finance.
The partnership between DHL eCommerce and Ajex, with the intention to deliver reliable, affordable, and sustainable delivery solutions, not only aligns with Saudi Arabia’s Vision 2030 initiative and its focus on logistics but also opens opportunities for future growth and collaboration in the finance and business industry.
