Back to the complete issue
Thursday, 7 April 2022

Saudi last-mile delivery firm acquires local startup Gallop Express

GLT Express steps into Egypt with local acquisition: Saudi logistics company GLT Express has made Egypt its first expansion destination outside the Kingdom, acquiring Gallop Express for an undisclosed sum, according to a statement (pdf).

What’s GLT Express: It’s the logistics delivery arm of Global Logistics and Technology (GLT) Holdings, which also offers scaling solutions, fintech and payment services, and digital support to e-commerce and F&B businesses, among others. Founded in 2016, the holding company operates in Saudi Arabia, the UAE, Uzbekistan, and Sudan. Subsidiary GLT Express provides B2B fulfillment, last mile delivery, customs clearance and freight services in KSA.

Gallop Express is an Egyptian startup courier service for individuals and companies, founded in 2020.

“The acquisition of Gallop Express in Egypt was a no-brainer,” GLT Express CEO Mark Humphries said, given the potential in the Egyptian market.

This is the second Saudi mid-market acquisition in the local market this week: GLT’s takeover comes hot on the heels of Saudi Telecom’s bid for an 89.5% stake in local systems integrator Giza Systems. Our GCC neighbors have been stepping up activity in the local market of late, including M&A, investment and (in the case of KSA) deposits at the central bank.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.