Aramex to acquire Australasian firm Fastway
The deal involves a 100 per cent buyout of Fastway's business in Australia and New Zealand
Global logistics and transport provider Aramex Asia-Pacific has announced that it will soon acquire Fastway Limited, a New Zealand-based courier service that also has a major presence across the Australian soil.
The deal is expected to strengthen Aramex’s regional operations and improve the company’s access to a share in Asia-Pacific’s estimated $770 billion business to consumer (B2C) e-commerce market.
The deal, valued at A$117,400,000 (NZ$125,277,000) involves a 100 per cent buyout of the company’s business in Australia and New Zealand.
Aramex Asia CEO Othman Aljeda says the company is "excited" about the acquisition, which will deliver significant competitive results for the two companies, its customers and Fastway’s franchisees.
"The company [Aramex] 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," Aljeda says.
"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," he adds.
Fastway Australia CEO Richard Thame says the acquisition is 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," Thame says.
"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," Thame says.
Fastway Couriers Australia was named 2015 International Franchisor of the Year at the Franchise Council of Australia’s annual Excellence in Franchising Awards.
Currently, Aramex has a global network across many countries including, Singapore, Malaysia, Indonesia, Hong Kong, China and Australia.