Dubai-based logistics and express services provider Aramex has acquired Fastway Limited, a courier service provider based in New Zealand.
The deal is Aramex’s second acquisition in the Asia-Pacific region to date and involves a 100% buyout of the company’s business in New Zealand and Australia for NZ$125.3m (US$80.9m).
Established in 1983, Fastway Couriers’ global network includes 63 regional depots and 1,500 courier franchisees across Australia, New Zealand, Ireland, Northern Ireland and South Africa. The company transports 16 million parcels globally to 75,000 customers each year.
Next strategic move
Aramex CEO, Hussein Hachem, said: "Fastway Couriers has a strongly performing business, well-recognized brand and leadership position in the Asia-Pacific market, as well as an excellent management team and large global customer base. Following our recent deals in Thailand and Australia, acquiring Fastway Couriers is the next logical, strategic move for us.
The deal will also allow Aramex to expand its e-commerce proposition and take advantage of the increasing demand for online shopping delivery solutions and small parcel delivery services in Asia-Pacific.
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