Aramex acquires Saudi TAL for $80 million
RIYADH: Aramex, the global provider of comprehensive logistics and transportation solutions, has announced the acquisition of the Saudi Arabia-based company, Saudi TAL for Commerce and Contract Company Limited (Saudi TAL), for approximately $80 million.
Bashar Obeid, Chief Executive Officer of Aramex said: “Saudi Arabia is Aramex’s largest market in the Middle East and holds significant growth potential for the business. Acquisition of Saudi TAL supports Saudi Arabia’s Vision 2030, which aims to encourage private sector investment to diversify the economy. Our strategy is to have leaner and more efficient operations in all markets we operate in, and will allow us to focus on upgrading last-mile delivery through innovative solutions.”