PB Group is further strengthening its footprint in Malta’s logistics sector through a newly approved joint venture between Thomas Smith & Co. Limited and FastDrop Limited.

The transaction, which has received clearance from Malta’s Office for Competition under the Control of Concentrations Regulations, will see the creation of a newly incorporated jointly controlled company. FastDrop will transfer its entire business to the new entity, while Thomas Smith will contribute resources to support its operations. The move establishes a fully functioning joint venture focused on delivery, warehousing and logistics services, particularly within the “last mile” segment in Malta.

The development represents a further strategic step for PB Group, which acquired Thomas Smith’s insurance and logistics business in 2023. Through that acquisition, PB Group brought under its umbrella one of Malta’s longest-established operators. Thomas Smith has been operating in Malta for close to 180 years, building a reputation across freight forwarding, ship agency services, transport and ancillary maritime operations.

By combining Thomas Smith’s established logistics infrastructure and operational depth with FastDrop’s last-mile delivery expertise, the new structure could strengthen PB Group’s end-to-end logistics offering, intergrating its ability to provide comprehensive supply chain solutions spanning international freight, warehousing and domestic distribution.

The Office for Competition concluded that the notified concentration would not result in a substantial lessening of competition, noting only a minimal horizontal overlap between the parties’ activities. The transaction was therefore cleared under the simplified procedure.