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Aramex buys S African retailer

aramex buys retailerAramex has bought the master franchise for South African retailer PostNet for $16.5 million from OneLogix Group, the Dubai-based courier firm said on Sunday as it expanded its presence in Africa.

PostNet provides courier, printing and copying services, plus stationery and mailboxes, to individuals and businesses and has 287 stores in South Africa, according to an Aramex statement to Dubai’s bourse.

Each store will still be owned and operated by its respective franchisees, with Aramex acquiring the master franchise.

Aramex, which competes with global giants such as DHL and FedEx, has been focusing on expanding in Africa; it acquired South African logistics and transportation company Berco Express Ltd in 2011.-Reuters