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Dubai’s Aramex acquires South Africa’s Berco Express
Dubai's Aramex has completed the acquisition of South Africa logistics and transportation company Berco Express Ltd., for an undisclosed amount, the company said in a statement on Monday.
December 12, 2011 1:22 by Reuters
Berco Express operates 15 branches throughout South Africa and employs more than 700 people, the statement said.
Aramex said it will further expand across Southern Africa by opening additional offices and warehouses.
The logistics company also acquired Ireland-based liner agent and freight forwarder Aquaship Agencies in February to expand its freight capabilities in Europe.
Aramex reported a 3-percent rise in third-quarter profits in October as uncertainties in Egypt and high oil prices weighed on its growth. (Reporting by Shaheen Pasha; Editing by Praveen Menon)