NZ Post request to purchase PBT courier customer contracts cleared by Commerce Commission

 NZ Post has received clearance from the Commerce Commission to purchase the courier customer contracts of PBT Group. 

NZ Post Chief Financial Officer Rhonda Richardson says, “NZ Post is pleased to have received clearance from the Commerce Commission to purchase the courier customer contracts of PBT Group.” 

“We are confident that our new customers will benefit from NZ Post’s extensive network and service. We are looking forward to working with these customers and helping them grow their businesses." 

PBT Group Chief Executive Dave Lovegrove says, “NZ Post is well positioned to take on the parcel delivery side of our business, allowing us to continue focusing on our core offering of Express Freight, Container Cartage, Air & Ocean and logistics business operations.” 

“Our focus now will be on helping to ensure a smooth transition for our courier customers,” says Lovegrove.  

Following clearance from the Commerce Commission, the transaction is scheduled to be completed in early June with a transition period for customers to move to the NZ Post network to follow.