(Updates with comment from CEO starting third paragraph.)
Dec. 12 (Bloomberg) -- Aramex PJSC, the Middle East’s largest courier company, said it acquired Berco Express (Pty) Ltd. of South Africa, marking its biggest purchase to date and entry into Africa’s largest economy.
Berco Express operates 15 branches in South Africa and employs more than 700 people, Aramex said in an e-mailed statement today. No price was disclosed for the transaction.
“It’s our largest deal so far,” said Aramex Chief Executive Officer Fadi Ghandour in a phone interview.
Aramex has been expanding into Africa from its hub in Dubai, United Arab Emirates, to take advantage of opportunities for growth in underserved markets and fill a gap untapped by multinational firms.
The company operates in markets including Kenya, Uganda, Tanzania and Juba in Southern Sudan and plans to use Berco to expand across Southern Africa and invest in new offices and warehouses, Aramex said.
The Berco deal follows the formation of a joint venture company with SinoAir in China and the acquisition of OneWorld Courier and In-Time Couriers in Kenya this year.
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