Aramex (DFM:ARMX), a leading global provider of comprehensive logistics and transport has today announced its acquisition of Fastway Limited, a leading courier service provider headquartered in New Zealand with a major market presence in Australia.
Aramex (DFM:ARMX), a leading global provider of comprehensive logistics and transport has today announced its acquisition of Fastway Limited, a leading courier service provider headquartered in New Zealand with a major market presence in Australia. The announcement follows the approval of New Zealand’s Overseas Investment Office (OIO) authorising the transaction to proceed.
The deal, valued at NZD 125,277,000 (AUD 117,400,000) involves a 100% buyout of the company’s business in Australia and New Zealand.
CEO of Aramex Asia, Othman Aljeda said the acquisition would deliver significant competitive advantages for both companies, for customers and for Fastway’s franchisees.
“We’re excited to add Fastway to Aramex’s global network. The company has a strongly performing business, a well-recognised brand, a leadership position in Asia-Pacific, an excellent management team and a large global customer base. New Zealand and Australia are two of the most rapidly growing e-commerce markets in the region and by acquiring Fastway we can serve more businesses and consumers online and through our strengthened distribution network.”
“Our customers and franchisees will benefit from increased efficiencies, productivity and reach and the acquisition will provide Fastway’s Australian operations instant access to a global network that will foster greater innovation and collaboration.”
Richard Thame, CEO of Fastway Australia, said the acquisition was a significant vote of confidence in the Fastway network and approach.
“Our Australian operations have benefitted significantly from the rapidly growing e-commerce market, particularly with the rise of online shopping and increased demand for innovative delivery solutions – this success was recognised with Fastway being named Australia’s International Franchisor of the Year for 2015.”
“This is an exciting evolution for Fastway and our 800 franchisees in Australia which will deliver the benefits of a global network, reinforce our leadership position, and further strengthen our ability to invest in the tools and technology we need to continue to grow and deliver for our franchisees, our customers, our business partners and the Fastway network.
“Fastway’s franchisees and customers will also benefit from Aramex’s international expertise and scale, on-going technology innovation and commitment to customer service excellence and tailored support”.
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.