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Freightways ( (FTWYF) ) has provided an announcement.
Freightways Group Limited has announced the acquisition of VT Freight Express Pty Ltd, an Australian company specializing in express delivery services for various industries. This acquisition, valued at A$71 million, is expected to enhance Freightways’ market presence in Australia by complementing its existing B2C services with VTFE’s B2B offerings. The transaction is anticipated to be earnings-per-share accretive from the first year and aligns with Freightways’ multi-brand strategy, allowing VTFE to maintain its leadership while sharing resources with Freightways.
More about Freightways
Freightways Group Limited is a company operating in the express delivery industry, offering services such as parcel and freight delivery. The company focuses on both B2B and B2C markets, leveraging an asset-light model with contractor fleets and leased facilities. Freightways is expanding its presence in the Australian market, complementing its existing services with strategic acquisitions.
For an in-depth examination of FTWYF stock, go to TipRanks’ Overview page.