In a transaction concluded on 25th February 2019, MAC Holdings (Pvt) Ltd, a diversified group of companies, which pioneers and is recognized as a market leader in global logistics, announced it acquired a 50% equity stake in Finlays Linehaul Express (Pvt) Ltd from Finlay’s Colombo Limited. Launched in August 2008 as a Joint venture between Finlays Colombo Limited and Linehaul Express (LINEX), Hong Kong based Logistics Company, Finlays Linehaul Express (Pvt) Ltd operates as the exclusive General Sales Agent for the wholesale courier operations of Cathey Pacific and Dragon Air.
With this acquisition MAC will expand their capability in delivering on their forte of “one stop Shop” freight and logistics provider. The courier service offering enabled through this acquisition will provide enhanced value addition to the clientele of MAC. LINEX, the Joint Venture Partner of Finlays Linehaul Express (Pvt) Ltd, is the largest wholesale airport- to-airport express services provider in the world with a portfolio of Customs Brokerage, Airport to Door Services and Airport to Airport Services. This new partnership is geared to bring innovative and new solutions to the market and has already harnessed the e-commerce portfolio of LINEX as enhanced offering to the Sri Lankan market. The company’s fully comprehensive, global e-Commerce logistics solutions provide cost-effective and reliable solutions facilitating e- Commerce transactions. The hybrid channels of LINEX leverages the group’s strengths in linehaul services into the destination country and is able to inject directly into the cross-borders mail systems. Hence, a full range of cost effective Parcel and Post services will be available to the Sri Lankan Market with these offerings.
Commenting on MAC’s acquisition of the equity stake held by Finlays Colombo Limited, The CEO & Chairman – LENTON GROUP, Mrs. Morty Langslow stated that LINEX was looking forward to working closely with the new JV partner to bring innovative and timely services to the Sri Lankan Market.
Mr. Gihan Jayasinghe, CEO and Country Head of Finlays in Sri Lanka, stated that “this sale forms part of a strategic divestment process currently underway at Finlays Colombo to enable the company to better focus and grow its core tea-related businesses. We have had a wonderful and memorable partnership with the Lenton Group for the past 10 years and are confident that MAC together with the local team will continue to offer high quality and world class services to our numerous customers.”
Further, Mr. Andre Fernando, Chairman / Managing Director of MAC said “We are delighted to partner with the Lenton Group to enhance the services offered to our customers and excited with the opportunities presented with the expansion of logistics requirements of the Sri Lankan & regional Markets”
ABOUT LENTON GROUP
Lenton Group (“Lenton”) is an Asian-based, cross-border service provider with four decades of experience. Lenton’s shareholders include, Japan Post and GeoPost of La Poste Group. Lenton offers a full range of port-to-port and delivered products, from time-critical hand-carry and next-flight-out courier, to cost-effective hybrid services. Lenton is the exclusive worldwide express GSA (general sales and service agent) for Cathay Pacific Cargo and for Cathay Dragon (previously Dragonair). Lenton supplies priority linehaul space on a wholesale basis to the transportation industry and operates an extensive and expanding network of owned-offices and trusted partners at more than 50 key global gateways.
ABOUT FINLAYS COLOMBO LIMITED
Finlays Colombo Limited has been operating in Sri Lanka since 1893 and is part of Finlays, which itself is part of the worldwide Swire Group of Companies. Finlays is one of the world’s leading suppliers of tea (in all formats), coffee and botanical extracts to brand owners. It operates a vertically-integrated supply chain spanning tea estates, tea sourcing, and packing; tea, coffee and botanical extraction; and new product development.
ABOUT MAC HOLDINGS (PVT) LTD
A market leader in global logistics, total transportation solutions, hospitality & leisure industries, specialized in providing innovative and customized solutions from a single source. Our group’s prime business activities include Freight & Logistics, Renewable Energy, Hospitality & Leisure, Fisheries & Aquaculture, Aviation, Shipping & Strategic Investments and is expanding its presence into different directions with aspirations of becoming a leading multifaceted conglomerate. The company has embarked a 150year history in the ships agency sector with the acquisition of Equity services Ltd, a former subsidiary of Carson Cumberbatch & Co. Ltd.