Aramex to go big on acquisitions

Dubai-headquartered logistics giant Aramex will spend up to US$200 million on acquisitions over the next year to 18 months as part of a major strategic push into Sub Saharan Africa, its CEO told Arabian Business.


Dubai-headquartered logistics giant Aramex will spend up to US$200 million on acquisitions over the next year to 18 months as part of a major strategic push into Sub Saharan Africa its CEO told Arabian Business.


Dubai-headquartered logistics giant Aramex will spend up to US$200 million on acquisitions over the next year to 18 months as part of a major strategic push into Sub Saharan Africa, its CEO told Arabian Business.

“We’re very bullish in our acquisitions. You will see us in 2014 scaling up a bit more and we’re raising debt to facilitate those acquisitions,” he said in an interview in Dubai. Hachem said that Aramex was targeting companies that broadly fit in with its strategy of facilitating trade between the African continent, which he described as “underserved”, and regions such as the Middle East, China, and India.

“We have a big appetite for big acquisitions if it makes sense. The price of that acquisition it might cross $100 million or $200 million. We have an appetite to go and do those if it fits our strategy and allows us to go into new territories.”

Hachem said that the company, which was founded in Jordan 30 years ago, was currently in talks for franchising deals with partners in Dijibouti, Somalia and Ethiopia.