Sunday 17 January 2021

Aramex acquires Fastway Couriers for $80m

DUBAI, January 21, 2016

Aramex, a leading provider of comprehensive logistics and transportation solutions, has acquired Fastway (Fastway Couriers), a leading courier service provider headquartered in New Zealand, in a recent expansion of its global presence.
The deal is Aramex’s 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 125.277 million New Zealand dollars (Dh293.65 million/$80.8 million), said a statement.
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. 
Hussein Hachem, chief executive officer of Aramex, said: “We are excited to add Fastway Couriers to Aramex’s global network. The company has a strongly performing business, a well-recognised brand, a leadership position in the Asia-Pacific market, an excellent management team and large global customer base. 
"Following our recent deals in Thailand and Australia last year, acquiring Fastway Couriers is the next logical, strategic move for us. Having scalable synergies with our own infrastructure and extending our reach across the region, the acquisition now makes us present in New Zealand for the first time and strengthens our existing operations in Australia. 
"Enhancing and expanding our operations in the region also allows us to further contribute to the development of Asia-Pacific’s e-commerce sector and facilitate cross-border trade.”
Othman Aljeda, chief executive officer of Aramex Asia, said: “This deal gives us significant opportunities to expand our e-commerce proposition and take advantage of the increasing demand for online shopping delivery solutions and small parcel delivery services in the Asia-Pacific. 
"New Zealand and Australia are two of the most rapidly growing e-commerce markets in the region and by acquiring Fastway Couriers we can now serve more businesses and consumers shopping online. Extending our operations to New Zealand and enhancing our existing business in Australia also strengthens our wider Aramex global network.”
The move further deepens Aramex’s operations across the Asia-Pacific region, which was the largest e-commerce market in the world this past year, said the statement.
Bruce Speers, group managing director, Fastway, said: “We are very proud of our company and what we have built up over the past 32 years, maintaining a strong brand and loyal customer base. The investment we have made in the company and our successful focus on providing low costs, optimal delivery times and extending our reach globally has resulted in significant growth for our business and brand. 
"The recent spike in online shopping has also increased our consumer base and demand for our services considerably, positively impacting our reputation in the market as we continue to maintain the highest levels of customer service. 
"This acquisition allows our customers to benefit from Aramex’s global network, international expertise and scale, while still being able to enjoy our personalised, tailored services.” - TradeArabia News Service

Tags: Aramex | acquisition | acquire |

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