Freightways Buys Pete’s Post

NZ Herald:

Freightways is buying the Pete’s Post mail delivery business for $1.3 million.

Freightways’ DX Mail will buy franchiser rights, effective from December 21.

The purchase is expected to produce earnings before interest, tax, depreciation and amortisation of about $500,000 over the next year.

The Pete’s Post mail delivery business operates through franchises in Taranaki, Manawatu, Wanganui, Hawke’s Bay and Bay of Plenty.