Dubai: Aramex, the global logistics and transportation solutions provider, said on Sunday it has acquired master franchise for the PostNet brand in South Africa for $16.5 million (Dh60.5 million) in a 100 per cent buy out.
PostNet is South Africa’s largest privately-owned counter network in the document and parcel industry.
PostNet South Africa has a chain of 287 stores and services 55,000 customers daily across the country. While Aramex will own the master franchise for PostNet in South Africa, each PostNet store in the country will continue to be owned and operated by the respective franchisees.
“We continue to view South Africa as a highly attractive market with significant growth prospects and this acquisition is testimony to our long-term commitment to investing in the country’s sustainable development,” said Andy van der Velde, Chief Executive Officer of Aramex, South Africa.
Aramex first entered the South African market with the acquisition of Berco Express in 2011, which also created the platform for its entry into the Southern African region.
