OIO approves sale of Fastway couriers to Dubai-based Aramex

Thu, 21 Jan 2016

By Edwin Mitson Jan. 21 (BusinessDesk) - The Overseas Investment Office has approved the sale of the courier service, Fastway, to the Dubai-based logistics group, Aramex, for just over $125 million. Fastway has 270 franchisees in New Zealand and was founded by Bill McGowan in Napier in 1983. One year later, in 1984, it became the first courier company to operate on a franchise model. It currently has operations in New Zealand, Australia, Ireland, Northern Ireland and South Africa, with 1,500 franchise-holders. Aramex said the acquisit...

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