Dubai-based Aramex, a global provider of logistics and transportation solutions, has announced its acquisition of Fastway Ltd, a courier service provider headquartered in New Zealand.
The deal is Aramex’s (profile) second acquisition in the Asia-Pacific region to date and involves a 100 per cent buyout of the company’s business in New Zealand and Australia for approximately AED 293.65 million.
Established in New Zealand 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.
With more than 250 franchise partners across New Zealand alone, the company transports 16 million parcels globally to 75,000 customers each year. Its courier franchisees offer cost effective, reliable and fast delivery services and are supported by the latest innovative technologies and online parcel track and trace facilities.
Commenting on the acquisition, Hussein Hachem, Chief Executive Officer of Aramex said, “We are excited to add Fastway Couriers to our global network. The company has a strongly performing business, a well-recognized brand, a leadership position in the Asia-Pacific market, an excellent management team and large global customer base.”
This acquisition strengthens Aramex’s Asia-Pacific proposition and global footprint, building on the company’s owned operations in Singapore, Malaysia, Indonesia, Hong Kong, China and Australia, and helps facilitate smooth cross-border movement across the region.
About Aramex
Aramex (DFM: ARMX) is a leading global provider of comprehensive logistics and transportation solutions. Established in 1982 as an express operator, the company rapidly evolved into a global brand recognized for its customized services and innovative multi-product offering. Traded on the NASDAQ from 1997 to 2002, Aramex today is a publicly traded company on the Dubai Financial Market, employing more than 13,900 people in 354 locations across 60 countries and leads a strong alliance network providing global presence, and bringing together 40 independent express companies from around the world. The range of services offered by Aramex includes integrated logistics solutions, international and domestic express delivery, freight forwarding, secure records and information management solutions, and e-services, including e-business solutions and Shop and Ship.
For more information, please http://www.aramex.com.