Aramex, the Middle East’s largest courier company, has
completed the acquisition of South Africa logistics firm Berco Express for an
undisclosed amount, the company said Monday.
The deal is part of Aramex’s strategy to expand
into fast-growing emerging markets and comes weeks after the signing of a joint venture with SinoAir
in China.
Berco Express operates 15 branches in South Africa and
employs more than 700 people, Aramex said in an emailed statement.
The acquisition is “in line with our long-term strategy to strengthen
our presence in key emerging markets around the world,” CEO Fadi Ghandour said in the statement.
Aramex plans to expand further across South Africa by
opening new offices and warehouses.
The Dubai-based company in October posted a three percent
rise in third quarter profits to AED48m ($13m) as high oil prices and Arab
unrest weighed on its growth.
The company was forced to suspend its operations in Egypt
during the uprising in January, taking a toll on business, said Ghandour.
“Our operations are experiencing a slowdown due to
uncertainties in Egypt and other markets, which has affected business and trade
across the whole region,” he said.
The logistics firm said it expects to announce new
acquisitions in Central Asia and Africa by the first quarter of 2012.
The company acquired Ireland-based liner agent and freight
forwarder Aquaship Agencies in February, and Kenyan courier companies OneWorld and
In-Time in the first quarter.
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