WELLINGTON – Freightways Group Limited announced on Wednesday it has agreed to purchase the business and assets of Australian express freight company VT Freight Express Pty Ltd (VTFE) for A$71 million ($47 million), expanding its B2B delivery footprint across the Tasman.
The acquisition of the Victoria-based company, which specialises in parcel and palletised freight for business customers, is expected to complete on or after January 30, 2026, pending standard conditions, Freightways said in a statement to the NZX and ASX.
VTFE, founded in 2010, reported revenue of A$77 million in the 12 months to October 2025. The deal is forecast to be earnings per share (EPS) accretive by 6% for Freightways from the first year, the company said.
The purchase will be funded through existing and new bank debt facilities.
The move strengthens Freightways’ presence in the Australian express logistics market, providing an entry point for B2B services that complement its existing Allied Express business, which focuses on business-to-consumer (B2C) deliveries.
VTFE operates an asset-light model using contractors and leased facilities, similar to other Freightways divisions. It serves more than 350 clients across all Australian states and territories, employing 49 staff and working with 87 contractors.
“The acquisition builds Freightways’ presence and capability in the express market in Australia in a niche that is complementary to the existing Allied Express B2C niche,” the company said.
VTFE will retain its own leadership and brand under Freightways’ multi-brand strategy, with shared resources where appropriate.
Advisers to Freightways included KPMG for financial and ESG due diligence, Gilbert + Tobin as legal advisor, and Balfour Green as M&A advisor. Wisewould Mahoney acted for VTFE.
($1 = 1.5113 Australian dollars)