Cheetah Net Supply Chain Service Inc. executed a definitive agreement to acquire Edward Transit Express Group Inc., an inbound non-vessel operating common carrier specializing in ocean and air transportation services.
“With the agreement now executed, we look forward to closing the acquisition and to integrating Edward’s operations into Cheetah as soon as possible. We expect Edward’s logistics and warehousing services to reduce Cheetah’s operating overhead, and more importantly, to jumpstart Cheetah’s ability to offer these services to third-party parallel-import dealers. The acquisition begins a new chapter in Cheetah’s plans to become an international provider of comprehensive and integrated supply chain solutions,” says chairman and CEO Tony Liu.
Key takeaways:
- This strategic move marks Cheetah’s inaugural investment in the logistics sector.
- Following the acquisition, Cheetah will own 100% of Edward.
- Established in 2010, Edward provides weekly consolidation services through its agency network system. These services are catered to loose cargoes and full containers for both inbound and outbound shipments.
