KKR is reportedly looking to put Goodpack, a Singapore-based global supply-chain and logistics company, on the block, while Pakistan’s social e-commerce startup DealCart has raised $3 million in a seed funding round.
KKR in early talks for Goodpack sale
KKR is reportedly looking to initiate a sale process for Goodpack, a Singapore-based global supply-chain and logistics company, in a likely multi-billion-dollar deal, according to The Wall Street Journal.
The private equity giant is in early stages of discussion with financial advisors to sell Goodpack, The Journal said, quoting people familiar with the matter. A formal sale process could kick off “late in the third quarter or early in the fourth if there is market interest,” one of the persons said.
In 2020, KKR was reportedly mulling a $2-billion sale of the firm, but the plan was subsequently shelved as bids did not meet its expectations amid the Covid-19 pandemic, according to Reuters.
KKR acquired Goodpack in 2014 for about S$1.4 billion and subsequently took the group private in a high-profile deal at the time.
Founded in 1980, the company is one of the world’s largest providers of reusable pallet-sized intermediate bulk containers for transport by road, rail, or sea. The company operates in over 80 countries, including in Asia, Europe, the Middle East, Africa, and South America.
DealCart raise $3m seed round
Pakistan’s social e-commerce startup DealCart has raised $3 million in a seed funding round led by Shorooq Partners and Sturgeon Capital, according to an announcement.
Other investors including 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners also participated in this round.
In 2022, the startup raised $4.5 million in a pre-seed funding round led by Shorooq Partners. The round also saw participation from Fatima Gobi Ventures, Vibe Capital, and other investors.
The company will use the proceeds from the fresh funding for its expansion and provide affordable essential goods to Pakistan’s low- and middle-income consumers.
Founded in 2022, DealCart targets consumers who spend about 50-60% of their income on groceries and essentials, enabling them to save more and invest in a better future. The company also targets a digitally sophisticated younger population that prefers online retail spaces.
In May, Abu Dhabi-based alternative investment manager Shorooq Partners announced that it has made the first close of its latest $100-million private credit fund.
