Dubai-based logistics operator Aramex has expanded its footprint in the Asia-Pacific region with the 100% acquisition of Fastway Couriers in New Zealand for NZ$125m.
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. With more than 250 franchise partners across New Zealand alone, the company transports 16m parcels globally to 75,000 customers each year.
Hussein Hachem, chief executive of Aramex, said: “Fastway Couriers 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 scaleable 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.”
Othman Aljeda, chief executive 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.”
