DHL eCommerce Acquires Minority Stake In Saudi Logistics Firm AJEX

DHL eCommerce, the e-commerce logistics arm of DHL, has finalized its minority stake acquisition in AJEX Logistics Services, a Riyadh-based supply chain and transportation company owned by the diversified Saudi conglomerate Ajlan & Bros Holding Group. 

The move marks DHL’s formal entry into Saudi Arabia’s fast-growing parcel market, while supporting AJEX’s expansion across the Middle East. Together, the companies aim to capitalize on the double-digit growth forecast for the Kingdom’s e-commerce sector, a central component of Saudi Vision 2030.

Founded in 2021 by Ajlan & Bros in partnership with China’s logistics firm SF Express, AJEX operates more than 60 facilities, a fleet of 1,200 vehicles, and employs 2,000 professionals across the Middle East region. Meanwhile, DHL eCommerce specializes in cross-border and domestic parcel logistics, offering shipping, delivery, returns, and technology-enabled solutions for businesses with high shipping volumes. With the AJEX agreement, DHL eCommerce will gain representation on AJEX’s management board, while also having the option to increase its stake to a majority position in the future. 

In an interview with Inc. Arabia, Pablo Ciano, CEO of DHL eCommerce, said the acquisition reflects the scale of the opportunity in Saudi Arabia. “We see significant opportunities in the e-commerce logistics space in Saudi Arabia, particularly due to the rapid growth of online shopping and the supportive framework established by Saudi Vision 2030,” Ciano said. “The increasing consumer demand for fast and reliable delivery services positions DHL to enhance operations and expand our market presence. Additionally, Saudi Arabia's geographic position at the crossroads of Europe, Asia, and Africa makes it an ideal logistics hub.”  

In line with this vision, Ciano pointed out that finding the right local collaborator was critical to realizing DHL’s ambitions in the Kingdom. “AJEX emerged as the ideal partner due to its innovative approach to last-mile delivery, and its commitment to leveraging technology for operational efficiency," Ciano explained. "Their understanding of local market dynamics and customer needs aligns perfectly with DHL’s strategy of enhancing service delivery through innovation. This partnership not only complements our capabilities, but also supports our regional growth strategy by tapping into AJEX's local expertise and infrastructure."

Pablo Ciano, CEO of DHL eCommerce. Image courtesy DHL.

From AJEX’s perspective, the partnership marks a new chapter in its growth story, with CEO Mohammed Albayati emphasizing that collaboration has been central to the company’s success since its founding. “At AJEX, partnerships have been a cornerstone of our growth since we started operations in 2021," he said. "In just a few years, we have scaled to more than 60 facilities, a fleet of 1,200 vehicles, and 2,000 colleagues across the Middle East region, thanks in part to several strategic alliances that have enabled us to launch new products, services, and solutions, as well as upskill our team. Bringing DHL eCommerce on board marks the next leap in that journey.” 

And while DHL’s investment represents a milestone for AJEX, Albayati said that the real value lies in how such alliances are forged. “Partnerships work best when they are built on shared values and a clear strategic purpose," he said. "The goal should never be investment for its own sake. It should be about finding the right partner who brings complementary strengths and shares a long-term vision. In Saudi Arabia and across the GCC, we are at a transformative moment where partnerships will define the next phase of growth, particularly in logistics. The reality is that given the speed at which technology is evolving, customer expectations are rising, and competition is intensifying, going alone is no longer viable if you want to secure a competitive advantage.” 

Albayati also underscored how the partnership with DHL strengthens AJEX’s Vision 2030-inspired mission. “As a Saudi-born company inspired by Vision 2030, our ambition has always been to deliver exceptional logistics solutions that connect Saudi Arabia and the Middle East with the world," he said. "By combining AJEX local expertise, deep regional roots, and strong operational network, together with DHL’s global reach, advanced technology, and decades of know-how in e-commerce logistics, this alliance gives us the best of both worlds."

AJEX CEO Mohammed Albayati. Image courtesy AJEX.

Looking ahead, Albayati expects AJEX's collaboration with DHL to raise the bar in the Kingdom's highly competitive logistics market. “What differentiates AJEX and DHL is our shared values of customer-centricity, innovation, and teamwork," Albayati said. "As the e-commerce boom transforms Saudi Arabia and the wider Middle East, we’re here to set new standards of efficiency, reliability, and service excellence, supporting high-growth sectors and powering broader industry development in line with Saudi Vision 2030. In this context, speed and cost are important, but they are no longer enough to stand out in this market. From integrating advanced technology adoption to developing more sustainable practices, our strategic alliance with DHL eCommerce will enable us to serve the customers’ needs of tomorrow, not just today.” 

Looking beyond the AJEX deal, DHL is already positioning itself for wider regional expansion. Ciano noted, “As part of our Strategy 2030 ‘Accelerate Sustainable Growth,’ DHL Group is investing EUR500 million in high-potential markets like Saudi Arabia," Ciano revealed. "We are actively exploring further investments and acquisitions in homegrown enterprises across the region. Collaborating with local firms is essential for understanding market nuances and delivering tailored logistics solutions to meet customer expectations.” 

From Albayati's standpoint, collaborations like the one AJEX engineered with DHL are key to unlocking not just company growth, but the wider potential of the region’s logistics sector. “Strategic alliances allow you to scale more quickly, access new capabilities, and create value not just for your business, but for your industry and your country," he said. "For AJEX, the partnership with DHL is about combining global best practice with local expertise to unlock opportunities for our customers, employees, and the wider logistics ecosystem.” 

When asked what other local companies could learn from the DHL–AJEX tie-up, Ciano pointed to what matters most for companies courting global partners. “For local enterprises seeking partnerships with global entities like DHL, I advise focusing on innovation and technology adoption, which are critical for standing out in the logistics industry," he said. "Additionally, aligning with international standards and best practices can enhance your appeal as a partner. Lastly, building strong relationships within the industry and demonstrating a commitment to customer-centric solutions will also create more opportunities for collaboration and investment.”