WICE Logistics - Pathway Towards Sustainable Growth for a Family Business
Wice Logistics has grown from a family business to a professional regional logistics company. What has been the key to success?
At a glance
Founded in
1993
Country
Thailand
Industry
Logistics
Revenue
US$ 239 million
(as of 2022)
Abstract
WICE Logistics has transitioned from a modest family-owned enterprise to a professional regional logistics company through strategic transformation and sustainable growth. Following a restructuring in 2002, the company became fully owned by Thai shareholders, led by the Kongsoonthorn family. Listing on the Stock Exchange of Thailand in 2015 allows WICE to fund operational improvements and international expansion. By adopting a non-asset-based logistics model and leveraging strategic partnerships, mergers, and acquisitions (M&A), WICE extended its network across Asia, such as acquiring Singapore’s Sun Express Logistics and Hong Kong’s Universal Worldwide Transport.
The case study explores how WICE Logistics leveraged network control through M&A activities to achieve sustainable growth while maintaining its commitment to nurturing relationships with acquired companies. Learners are also encouraged to discuss and analyze how the company transformed a family business into a professional organization in the global landscape.
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(1) Regarding Case Study Content: This case study is based mainly on secondary data and analysis of publicly available information unless otherwise stated, and is intended solely for educational purposes. Any opinions expressed by the author(s) are designed to facilitate learning discussion and do not serve to illustrate the effectiveness of the company. Additionally, banner images and logos used in the case study are intended for visualization in an educational setting and it is not used to represent or brand the company. For any dispute regarding the content and usage of images and logos, please contact the team.
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