Fastway Couriers has been acquired by a global transport and logistics business, Aramex.
The $117,400,000 deal is a 100 percent buyout of the company’s business in Australia and New Zealand.
Richard Thame, CEO of Fastway Australia, said the acquisition was a significant vote of confidence in the Fastway network and approach.
“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.
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.”
Aramex, which is based in Dubai, grants franchises for its international express and freight forwarding.