Onelogix sells Postnet for R190m to Dubai’s Aramex

Onelogix CEO Ian Lourens (right) has delivered  an early Christmas present for shareholders with the sale of the PostNet franchise for R190m. Lourens, a low profile but extremely effective entrepreneur, is starting to accumulate a serious cash pile for the diversified logistics group which has a market capitalisation of R1.1bn. Earlier this month Onelogix announced it had raised just over R100m through the sale of shares to its BEE partner Kagiso Capital. Can hardly wait to see what Lourens does with all that cash. An offshore investment perhaps? – AH     

DUBAI (Reuters) – Aramex has bought the master franchise for South African retailer PostNet for $16.5 million from OneLogix Group, the Dubai-based courier firm said on Sunday as it expanded its presence inAfrica.

PostNet provides courier, printing and copying services, plus stationery and mailboxes, to individuals and businesses and has 287 stores in South Africa, according to an Aramex statement to Dubai's bourse.

Each store will still be owned and operated by its respective franchisees, with Aramex acquiring the master franchise.

Aramex, which competes with global giants such as DHL and FedEx, has been focusing on expanding inAfrica; it acquired South African logistics and transportation company Berco Express Ltd in 2011