Austrian Post has held a 25 percent stake in the Turkish parcel services provider Aras Kargo a.s. since 2013. At that time, the basic intention and understanding with the Aras family, founders and owners of Aras Kargo, was for Austrian Post to increase its shareholding.
The formal closing of the transaction to raise Austrian Post’s stake to 80 percent took place on 25th August 2020. Baran Aras will continue to own a 20 percent shareholding in Aras Kargo and will also serve on its Executive Board.
“I am pleased that the increase in our shareholding in Aras Kargo, which was agreed upon many years ago, has finally taken place. Turkey is an attractive, dynamic, and strongly growing market. We continue to believe in the country and also want to invest in it in the future. The increase in our stake in Aras Kargo represents the resolute implementation of our strategy of aiming to grow in selected markets”, says Georg Pölzl, Chief Executive Officer of Austrian Post.
Austrian Post plans to further expand the business of Aras Kargo in the future. The company is well on track, generating an average growth of 15 percent p.a. over the past three years. The path pursued by the company up until now will be continued with the clear objective of further strengthening the position of Aras Kargo in a very dynamic market and investing in customer-oriented solutions offered by the company.
“We plan annual investments in the three-digit million Turkish Lira range. Thanks to the performance of the management, employees and certainly the Aras family, Aras Kargo has succeeded in positioning itself as one of Turkey’s leading parcel services providers“, adds Peter Umundum, Member of the Management Board of Austrian Post with responsibility for the Parcel & Logistics Division. “Our thanks are also due to the Turkish institutions, especially the Investment Office of the Presidency of the Republic of Turkey which was involved in solving the conflict between the owners, also enabling Aras Kargo to develop further during the dispute.”
Baran Aras adds: “After a difficult time between the shareholders, we have come to a positive agreement with our Austrian partner regarding a new partnership structure for Aras Kargo. I am confident the new structure will bring prosperity to all our stakeholders and our country. My late father Celal Aras established the company 41 years ago and we vowed - together with our 14,000 employees - to always be a step ahead. We have achieved to build a company that has one of the widest distribution networks in Turkey. Today we are moving further ahead. With the strength of our people and our new structure we are excited to carry Aras Kargo to new horizons”.
ABOUT ARAS KARGO
|Market position||No. 2|
|Revenue in 2019||TRY 1,370m (approx. EUR 215m)|
|Shipment volumes||127m parcels and 29m documents p.a.|
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