MULTAN: TruKKer, a UAE-based freight management company, has officially acquired the Pakistan-based TruckSher to expand its operations in the South Punjab region.
TruKKer’s first-ever acquisition tailored in its vision to expand toward Central Asian and SAARC countries. According to Chief Executive Officer Trukker Gaurav Biswas said the company was also preparing for a potential listing on Saudi Arabia’s Tadawul stock exchange in a bid to tap into the region’s growth potential. Chief Operating Officer TruKKer Anish Garg discussed the underlined development online, where he remarked:
“We have been doing our feasibility and analysis of the Pakistan land freight sector for some time now and are very excited with the opportunity it offers to digitization and adaptation of technology in this fragmented and traditional sector… We are glad to welcome the TruckSher team to TruKKer and further accelerate their trajectory to continue leading the land freight sector in Pakistan fueled by our advanced engineering products and processes.” Sharing his excitement about the new merger, Managing Director TruckSher Abid Butt said:
“We are very excited to work with TruKKer and look forward to accelerating our growth in Pakistan and learn from the success achieved in the MENA region.” With the M&A formalities finalized, TruKKer and TruckSher aim to consolidate the region’s freight management sector with over-the-top ground operations. Founded in 2015, TruKKer has since assembled a fleet of over 35,000 trucks across major markets in Saudi Arabia, UAE, Egypt, and other Gulf economies. With TruckSher’s induction, the company now looks set to do more business through the Lahore and Karachi-based startup in commodities, Fast Moving Consumer Goods (FMCG), and related electronics equipment.
It is worth mentioning that TruKKer is backed by prominent MENA-focused (the Middle East and North Africa-focused) investment arms, such as Saudi-based venture firm Riyad TAQNIA Fund (RTF) and the World Bank’s International Finance Corporation (IFC).