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FINANCIAL NEWS
Dubai’s Aramex buys USD16.5m S. African PostNet
14 Dec 2014
(MENAFN) Dubai-based Aramex announced it has acquired the master franchise for South African retailer PostNet, in a deal estimated to be worth USD16.5 million, from OneLogix Group, Gulf Business reported.
PostNet, which provides courier, printing and copying services, plus stationery and mailboxes, to individuals and businesses, has 287 stores in South Africa, with each one of these stores expected to be still owned and operated by its respective franchisees, with Aramex acquiring the master franchise after the signing of this deal.
Aramex, which competes with global giants such as DHL and FedEx, said that this deal will help it in its to expand in Africa, which the company first began working on by acquiring Berco Express Ltd, the South African logistics and transportation company in 2011.
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