The deal, valued at NZD 125,277,000 involves a 100% buyout of the company’s business in Australia and New Zealand.
Commenting on the acquisition, Hussein Hachem, Chief Executive Officer of Aramex said: “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 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 is the next logical, strategic move for us. Our customers and franchisees will benefit from increased efficiencies, productivity and reach and the acquisition will provide Fastway’s New Zealand operations instant access to a global network that will foster greater innovation and collaboration.”
Fastway Limited Chairman Brem Ellingham said, “Aramex recognises the strength of Fastway’s business model and the calibre of our franchise network, especially in New Zealand and Australia. This is a major milestone for our business, our franchisees and our customers. We’ve come a long way since our humble beginnings in Hawkes Bay in 1983. This latest step in the Fastway journey will provide an opportunity to further build on the value we deliver our customers and partners through improved service and product offerings and the backing of a major Global logistics player in Aramex.”
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. 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.”
Bruce Speers, Group Managing Director of Fastway Limited, said: “This is an exciting evolution for Fastway and our franchisees 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 is very proud that from humble beginnings, we’ve grown into a globally franchised courier company with a presence in New Zealand, Australia, Ireland, Northern Ireland and South Africa. The acquisition of our Company by a major multi-national the calibre of Aramex is a clear demonstration of the success that New Zealand businesses can achieve on a global stage. It’s a major endorsement for New Zealand know-how.”
Scott Jenyns, CEO Fastway Couriers New Zealand said: “Fastway’s franchisees and customers will now benefit from Aramex’s global network, international expertise and scale, on-going technology innovation and commitment to customer service excellence and tailored support.”
“Aramex identified the value of Fastway’s operations and commitment of our franchisees and employees early on, having partnered with us for almost a year through its international inbound freight business. They’ve recognised the strength and experience of our management team and the uniqueness of our business model and are excited to be working with us to accelerate our industry leadership and growth, particularly online.
“The e-commerce industry is expected to be a major growth driver for the courier and parcel delivery services industry in the future and we will be better positioned to take advantage of these opportunities,” Jenyns concluded.
This acquisition strengthens Aramex’s Asia-Pacific proposition and global footprint, building on the company’s operations in Singapore, Malaysia, Indonesia, Hong Kong, China and Australia, and helps facilitate smooth cross-border movement across the region.