Naif Alrajhi Investment acquires shares of Beez Logistics to expand logistics operations in Saudi Arabia
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- (1888PressRelease) February 04, 2022 - Naif Alrajhi Investment has announced the signing of an agreement with Beez Logistics, a Saudi-founded third-party logistics company, to support its Saudi market expansion strategy and drive digital innovation using state-of-the-art technologies to optimize its core business operations.
With a shared vision for reinventing delivery experiences in Saudi Arabia, the agreement will establish 11 new warehouses, equipped with the latest warehouse management solutions for cold and dry storage, and grow the number of distribution centers and points across the Kingdom to reach more than 100 for 24-hour deliveries benefiting couriers, e-commerce companies and retailers, and end-consumers. Additionally, Beez Logistics will increase the total number of refrigerated and dry vehicles in its fleet to over 1,000– which will support an effective logistics network linking Saudi Arabia's cities, towns, rural areas, and neighboring countries.
Beez Logistics will also integrate digital technology solutions to improve its warehouse management and delivery times accuracy and keep pace with the company’s wider geographical coverage. All these factors are expected to create new local jobs and deliver modern, high-value experiences directly to Beez Logistics’ customers.
Naif Saleh Alrajhi, Chairman and Chief Executive Officer at Naif Alrajhi Investment explains: “The agreement is in line with Saudi Arabia’s Vision 2030 digital goals and the growing need for digitalization across all the Kingdom’s sectors. This partnership represents a significant leap forward in the fields of logistics and technology and will raise the level of quality of local services provided to Beez Logistics’ clients while increasing the company's market share.”
‘’We are thrilled to have invested in a local innovative company founded by the ambitious youth of our country. This partnership is part of our company’s efforts to support the Kingdom’s digitalization efforts, diversify our investments, and support Saudi Arabia’s local talent.” Naif Alrajhi added.
In his turn, Eng. Mussaad Almalohi, Founder and Chief Executive Officer of Beez Logistics commented: “Landing a partnership with Naif Alrajhi Investment, supports our aspiration to become a leading company in Saudi Arabia’s thriving logistics sector. We will deploy world-class technologies including data analytics platforms for 360-degrees digitally integrated logistics services to achieve operational excellence and improve our competitive standing in the market.”
The announcement follows the recent e-commerce market growth in Saudi Arabia, which has highlighted the importance of prompt digital supply chains and delivery systems where speed, flexibility, and visibility are critical.
Currently, Beez Logistics offers a set of digital logistics solutions that include software programs and mobile applications that provide reliable, updated real-time data that automate operations between all of the company’s stakeholders including customers, employees, and drivers.
About Naif AlRajhi Investment
Naif Alrajhi Investment is a Saudi investment company based in Riyadh, with other branches located in Dubai and London. It invests in real estate, capital markets, and mergers and acquisitions across 13 sectors. It is uniquely distinguishable by its broad investment portfolio and capacity to engage promising corporates from all around the world that are paving the way to enter the Saudi market under solid partnerships, guaranteeing success and prosperity for all parties.
About Beez Logistics
Beez Logistics was established by a group of ambitious Saudi individuals in Riyadh, to provide solutions to complex gaps in the logistics industry. The company provides order fulfillment and warehousing services to all sizes of industries operating in Saudi Arabia. With its unique easy-to-use platform and established transportation network, Beez Logistics’ brings value to its client through efficient packaging, transportation, warehousing, reverse logistics and fulfillment services.
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