The Commerce Commission has granted clearance for NZ Post to acquire the courier business assets of PBT Couriers.
This includes existing contracts with businesses who have signed contracts to use PBT’s courier services.
It was announced in November last year that NZ Post was seeking approval for the deal.
NZ Post is a state-owned enterprise that provides mail, courier and logistics services. Relevant to the application, it operates a domestic small parcel courier business and is the largest provider of such services in New Zealand.
PBT provides freight, courier and logistics services throughout New Zealand. It is 75% owned by Waterman Capital. It provides courier services primarily to business customers in New Zealand. It contracts around 200 courier van owner-operators to deliver its services. The contracts with these owner-operators are not being acquired by NZ Post.
In reaching its decision, the commission says it focused on “the potential impact of the proposed acquisition on competition in the supply of intercity economy courier services”.
The commission had expressed initial concerns that the proposed acquisition would remove a disruptive competitor for intercity economy courier services.
However, after further investigation, commission chair Dr John Small says the commission was satisfied the acquisition is unlikely to substantially lessen competition in any New Zealand market.
“Our investigation indicated that, absent the proposed acquisition, it is unlikely that PBT would likely provide a significant disruptive influence on the supply of intercity economy courier services,” Small says.
“Post acquisition, customers requiring intercity economy courier services would have options for courier providers such as Freightways, Aramex and Team Global Express, in addition to NZ Post, and the loss of PBT is unlikely to have a material impact on the price and/or the quality of intercity economy courier services,” he says.
