SingPost buys 30% stake in Australia’s Hubbed
Singapore Post (SingPost) has bought a 30% stake in Hubbed, an Australian company which arranges parcel deliveries and returns using a national network of some 680 newsagents. The deal is worth around A$4.3m (S$4.6m) and was made via SingPost’s wholly-owned subsidiary, Quantium Solutions (Australia) Pty Ltd.
Headquartered in Balmain, Sydney, Hubbed works with newsagents, using them as local community hubs (hence the company name) through which customers can send parcels, receive their goods purchased online and arrange returns.
