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The combination of the cross-border logistics and e-commerce provider with Click's marketplace technology and smart-locker network will revolutionize the online shopping experience for Caribbean and Central American retailers and consumers.
MIAMI, Oct. 7, 2021 /CNW/ - Digital, e-commerce, logistics and operations experts Click Partners LP, a BVI limited partnership ("Click LP"), announced today the closing of its transformative acquisition of Aeropost Inc. and its subsidiaries ("Aeropost") from PriceSmart, Inc. ("PriceSmart") (NASDAQ: PSMT). Click LP's acquisition of Aeropost was announced concurrently with the acquisition of 100 percent of the issued and outstanding shares of smart-locker and marketplace technology provider Click to Collect West Indies Ltd. (together with its subsidiaries "Click"), from Wyyse Technologies Inc., a related party.
Click LP's mission is to revolutionize the online shopping experience for retailers and consumers in Central America and Caribbean, building one of the largest e-commerce marketplace and smart-locker networks in the region and optimizing last-mile delivery and service.
Click was co-founded by Bahamian entrepreneur Sebastian Bastian and Toronto dealmaker Adam Arviv, with Simon Legge acting as Lead Advisor to Bastian and Arviv and stepping into the CFO role at Click. This all star team is in place to launch a massive smart-locker platform that will service 60 million customers desperately in need of last mile e-commerce solutions.
Aeropost is one of the largest and most high-profile cross border logistics and e-commerce providers in Central America and the Caribbean, currently servicing 38 countries and territories with convenient local pick-up points and an innovative local payments platform that allows buyers to purchase U.S.-sourced merchandise online. The business combination with Aeropost converges Click's marketplace and smart-locker technology with Aeropost's established logistics and shipping operations, currently handling over $400 million of cross-border merchandise annually. This will create a fast growing digital marketplace with logistics operations in over 40 countries, focused on the largely untapped e-commerce opportunity within the Caribbean and Central America.
"In discussions with the Aeropost team, we quickly saw the great strategic fit with our business and the fantastic opportunity to build shareholder value that the combination represented," commented Mr. Arviv, Founder of Click LP. "Putting Aeropost's cross-border logistics and e-commerce capabilities together with Click's marketplace technology and smart-locker network creates a comprehensive solution that will transform the market."
"Our vision is to provide Caribbean and Central American vendors and consumers with an end-to-end solution, allowing them to access millions of products from around the world at affordable prices," said Mr. Bastian, Executive Chair at Click LP.
"We're very excited about this new chapter for Aeropost and the opportunity to work with the talented team behind Click," said Carlos M. Herrera, who will continue as Aeropost's CEO post-acquisition. "The combination of Click's marketplace technology and smart-lockers with our strong logistics and payments, along with the e-commerce momentum in the region, creates ideal conditions to accelerate our vision and delight our customers."
Integration efforts between Click and Aeropost will begin immediately, starting with the transformation of Aeropost's front-end marketplace (currently aeropost.com), revamping the user experience and optimizing functionality. Aeropost's new roadmap will also include the deployment of its integrated marketplace and smart-locker offering into new markets where Aeropost currently does not have a presence, starting with the Bahamas as its first expansion territory.
Dentons acted as legal advisor to Click on the acquisition and to Click LP on its formation.
Founded in Costa Rica, Aeropost is a well-established provider of logistics and payment services in Latin America, Centeral America and the Caribbean. Today, aeropost.com allows customers to buy products internationally with a fully landed price, local payment methods and local delivery. Aeropost serves customers in 38 countries with Costa Rica, Trinidad and Jamaica as its largest markets.
Founded in 2020 by serial entrepreneur Sebatian Bastian and emerging industries investor Adam Arviv, Click was formed to service the need for cross-border logistics and online shopping in the Caribbean and Central American markets. Click has developed an online marketplace, API and proprietary smart-locker software solutions for use across its smart-locker network. It currently has contracts with two smart-locker manufacturers and owns smart-locker units pending deployment across 150 sites, collectively comprising more than 8,000 individual cabinets.
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SOURCE Aeropost Inc.
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