Dubai’s Aramex targets acquisitions in range of $150m

Dubai-based courier Aramex has several acquisitions in the pipeline and is expecting to close deals valued in the range of $150m in the next two quarters, its chief executive told Reuters in emailed answers to questions.

“These acquisitions will help us increase our presence in growth markets,” said Hussein Hachem.

Aramex, which competes with global giants such as DHL and FedEx, has been focusing on expansion in Africa. It acquired South African logistics and transportation company Berco Express in 2011. It also bought Australian domestic courier company Mail Call Couriers last year.

The company reported a 7 per cent rise in third-quarter net profit earlier on Wednesday.