Aramex has announced its acquisition of the master franchise for the PostNet brand in South Africa. PostNet is a South African counter network of 287 stores in the document and parcel industry. The transaction involves a 100% buyout of the business from current owner OneLogix Group for $16.5m.
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. As master franchisee, Aramex will work in collaboration with each PostNet store, to further grow the retail potential of the brand in South Africa.
Following the acquisition, Aramex B2C services, including international and domestic express shipping and its e-commerce business will be made available across all PostNet locations in South Africa.
Hussein Hachem, Chief Executive Officer of Aramex said, “We are excited to further expand our global network through the acquisition of PostNet’s master franchise. 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,” concluded Hachem.
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