The Commerce Commission has granted New Zealand Post Limited (NZ Post) clearance to acquire PBT Group Limited's courier customer contracts.
In reaching this decision, the Commission focused on the potential impact of the proposed acquisition on competition in the supply of intercity economy courier services.
The Commission expressed initial concerns that the proposed acquisition would remove a disruptive competitor for intercity economy courier services.
After a comprehensive investigation, Dr John Small, chair of the Commission, expressed satisfaction that the acquisition is unlikely to substantially lessen competition in any New Zealand market.
"Our investigation indicated that absent the proposed acquisition, it is unlikely that PBT would likely provide a significant disruptive influence on the supply of intercity economy courier services," said Dr Small.
"Post-acquisition, customers requiring intercity economy courier services would have options for courier providers such as Freightways, Aramex, and Team Global Express, in addition to NZ Post, and the loss of PBT is unlikely to have a material impact on the price and the quality of intercity economy courier services."
The assessment of the competitiveness of PBT was central to the Commission's decision.
NZ Post is a state-owned enterprise that provides mail, courier and logistics services across New Zealand.
PBT is primarily a freight, courier, logistics, and intercity courier service for business customers across New Zealand. It contracts 200 courier van owner-operators to deliver its services.
NZ Post will not acquire the contracts with these owner-operators.
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