Dubai's Aramex buys South Africa's PostNet franchise
Dubai-based Aramex has bought the master franchise for South African retailer PostNet for $16.5 million from OneLogix Group.
PostNet provides courier, printing and copying services, plus stationery and mailboxes, with 287 stores in South Africa, according to an Aramex statement.
Following the acquisition, Aramex B2C services, including international and domestic express shipping and its unique e-commerce business Shop and Ship (called Aramex Global Shopper in South Africa), will be made available across all PostNet locations in South Africa.
Hussein Hachem, chief executive officer of Aramex, said: “As we continue to scale Aramex into new growth markets and bridge trade corridors, this acquisition will expand Aramex’s volume of business in Africa considerably.
"Investing in growth markets’ e-commerce sectors is also part of our wider strategy to maintain Aramex’s position as an e-commerce market leader, which is why we are disciplined in our approach to potential acquisition targets.
"Aramex only targets companies such as PostNet who are a perfect strategic fit in order to leverage their suitable, scalable synergies with our existing infrastructure.
"We will remain bullish on our outlook for future acquisitions in markets across Asia, the Middle East and Africa in particular, both to build our operations and strengthen our global footprint.”
Aramex has been focusing on expanding in Africa and in February the company's founder, Fadi Ghandour, said in an interview with Arabian Business that Aramex will spend up to $200m on acquisitions as part of a major strategic push into Sub Saharan Africa.