OneLogix, a subsidiary of JSE-listed logistics and supply chain fulfilment group OneLogix Group, has acquired the customer base of parcel distribution company Pro-Freight Express (PFX).
OneLogix will pay an initial R3 million cash for the company, with a further amount of up to R25 million being paid in a combination of cash and shares of 100c each, based on warranted profit targets being met.
"The agreement is structured as an ongoing customer referral agreement so as to increase the volume of business being serviced by the existing infrastructure and capacity of OneLogix, without a concomitant investment in assets or increase in debt," the group says.
The PFX customer base will be integrated into the operations of GoLogix Distribution, OneLogix division which offers a range of third-party logistics services supported by warehousing and clearing and forwarding activities.
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