Durrant Pate/Contributor

E-commerce logistics and solutions group Mailpac this week completed its acquisition of MyCart Express, one of Jamaica’s fastest-growing courier companies. 

The Mailpac board advised that the transaction documents were finalised and the acquisition was completed on Monday (April 1). This strategic acquisition not only positions the combined entity as the largest courier platform in the Caribbean delivering over 1.5 million packages annually, but also merges the complementary management, service offerings, and geographic footprint of both entities. 

With the acquisition now completed, the board of Mailpac, which is listed on the junior market of the Jamaica Stock Exchange (JSE), is to convene an extraordinary general meeting of shareholders to propose that Mailpac be rebranded as MyPac Group.

It is anticipated that MyPac Group will operate several independent ecommerce solution-based brands, including Mailpac (premium-service courier), MyCart (value-focused courier), Pack Yuh Barrel (digital barrel packing and shipments), and Mailpac Local (local online shopping). While the management of each brand will remain intact, the Group will be overseen by a management committee.

This committee will be made up of Khary Robinson and Garth Pearce of Norbrook Equity Partners Limited; Mark Gonzales and Samantha Ray of Mailpac and Kamar Palmer and Aldane Smith of MyCart. In addition to meaningful synergies in various operational areas, Mailpac and MyCart will also get to strategically focus on their core market segments with appropriate services and pricing. 

With conservative synergy estimates, Mailpac Group expects the transaction to deliver significant enhancements in revenue and profitability. Being the market’s second largest player with eight locations and tens of thousands of customers, MyCart brings substantial commercial and economic value to the Group. 

More importantly, with a robust technology backbone that was created in-house and an expansive warehouse presence in Miami, MyCart is poised to propel the Group in directions and into markets untapped by Mailpac. 

The transaction also provides MyCart, its ownership, and its management team with a more seamless pathway to establishing and operating the largest and most trusted courier platform in the Caribbean. 

In addition to doubling the size and capacity of Mailpac Group, the transaction will see the owner operators of MyCart becoming shareholders of the publicly listed company, significantly adding to the innovation and execution capacity of the Group.