DHL eCommerce has completed a minority stake acquisition in AJEX Logistics Services. The move is designed to help DHL enter Saudi Arabia’s fast-growing parcel market while supporting AJEX’s expansion across the Middle East. The partnership is also linked to Saudi Vision 2030 goals tied to building a stronger logistics sector.
This deal matters for Saudi logistics M&A because it uses a step-in model. DHL gets representation on AJEX’s management board. DHL also has the option to increase its stake to a majority position in the future. That structure can reduce entry risk while still creating a clear path to deeper integration later.
AJEX brings real operational depth on the ground. Since starting operations in 2021, AJEX has reported 1,500 employees, more than 50 facilities, and more than 900 vehicles. Another report describes AJEX with over 60 facilities, 1,200 vehicles, and a team of 2,000 professionals. Together, these figures show a large and fast-built delivery platform that a global buyer can plug into.
Why This Partnership Works for Cross-Border Growth
Each side brings something the other cannot easily build quickly. AJEX has an extensive distribution network in Saudi Arabia and Persian Gulf countries, and it has also run stations in the United Arab Emirates and Bahrain. AJEX launched U.S. operations in 2023. DHL eCommerce adds international shipping know-how and a global network as cross-border e-commerce demand grows.
The market backdrop is also clear in the sources. AJEX points to Saudi Arabia’s young population, with 63% under 30, as a signal for sustained e-commerce growth. AJEX also cites projected annual retail growth of 4.6% through 2027. Multiple reports say the companies expect double-digit growth in Saudi Arabia’s e-commerce sector, and they want to be positioned early.
Brand and governance are part of the blueprint too. Going forward, AJEX will be branded as “AJEX, a partner of DHL eCommerce.” DHL’s other units—DHL Express, DHL Supply Chain, and DHL Global Forwarding—are present in the country, which can help align service standards and customer experience. For decision-makers watching Saudi logistics M&A, the lesson is that a minority stake plus board representation can be a practical bridge between partnership and full control, if performance and regulations allow it.
What happened in the DHL-AJEX deal?
Why is this Saudi logistics M&A structure important?
What scale does AJEX bring to the partnership?
What growth signals are cited for Saudi Arabia’s e-commerce market?
