SINGAPORE - Mainboard-listed YuuZoo Corporation announced on Sunday (Sept 3) that YuuLog Europe, the new joint venture it recently set up with the management of Cinram Logistics France (CLF), an entertainment sector logistics firm in France, has acquired the business and assets of CLF.
The assets include a business that in 2017 is expected to generate more than S$30 million in revenues, said YuuZoo.
It said CLF has a 40-year history and serves a large network of big-brand customers. Its current client list includes leading global entertainment and eCommerce brands such as Amazon, Sony Pictures, Universal Studios, Warner Bros, 20th Century Fox, Zalando and ASOS. The operations cover everything in customer management from order to cash.
CLF processes over 25,000 stock keeping units per day from its fully owned warehouses covering 24,000 sq m and with a storage capacity of 26,000 pallets. The fully owned office building which sits next to the main warehouses covers 1,000 sq m. The premises sit on 60,000 sq m of fully owned land.
The eCommerce capabilities of CLF include expertise in reverse logistics, cross-dock, outbound/inbound and co-packing.
Said YuuZoo executive chairman Thomas Zilliacus: "YuuZoo has through the acquisition of the assets and business of CLF in one stroke achieved 3 major things. First, the company has gone from being only a social commerce marketplace operating primarily in the developing world, to become a complete end-to-end eCommerce player in the huge European eCommerce market.
"Second, the company has acquired a large new customer base consisting of some of the world's strongest brands in entertainment and eCommerce. Third, the company has added a very strong European team of some 250 people that will be central to YuuZoo's European expansion."
YuuZoo said its new base in Europe and the complete end-to-end eCommerce capabilities, combined with its offices in Asia, will allow it to also offer its services to eCommerce companies in Asia who want to enter the European market