Freightways Group Limited (FWY), a New Zealand-based company providing express pick-up, processing, and delivery services, has announced it will acquire VT Freight Express Pty Ltd (VTFE) for A$71 million. VTFE, an Australian company based in Victoria, specialises in express delivery of parcels and palletised freight, primarily serving B2B clients across various industries, including building, healthcare, retail, and plumbing. The acquisition is subject to customary completion adjustments and is expected to be finalised on or after 30 January 2026, pending satisfaction of standard conditions.
VTFE, established in 2010, operates with an asset-light model, utilising a contractor fleet and leased facilities, similar to Freightways’ Allied Express business. VTFE has a strong presence in Victoria and a growing volume of interstate freight. For the 12 months ending October 2025, VTFE recorded revenues of A$77 million. The acquisition is projected to increase Freightways’ earnings per share by 6% in the first year.
The purchase aligns with Freightways’ strategy to expand its B2B service offerings in Australia. VTFE will maintain its leadership and focus on its niche, sharing resources with other Freightways businesses where beneficial. The transaction will be funded through existing and new bank debt facilities.
Advisers for the transaction included KPMG, which provided financial, tax, climate and ESG due diligence services, Gilbert + Tobin acted as legal advisors, Balfour Green acted as M&A advisor, to Freightways. Wisewould Mahoney acted as legal advisers to VTFE.
