From Commerce Commission:

 

The Commerce Commission has received an application from New Zealand Post Limited (NZ Post) seeking clearance for it, or any interconnected body corporate, to acquire certain courier business assets of PBT Group Limited (PBT). Specifically, NZ Post seeks to acquire PBT’s existing contracts with businesses who have signed contracts to use PBT’s courier services.

 

NZ Post and PBT are both suppliers of courier services in New Zealand.

 

NZ Post is a state-owned enterprise that provides mail, courier and logistics services. Relevant to the application, NZ Post operates a domestic small parcel courier business. It is the largest provider of such services in New Zealand.

 

PBT provides freight, courier and logistics services throughout New Zealand. It is 75% owned by Waterman Capital. Relevant to the application, PBT provides courier services primarily to business customers in New Zealand. It contracts approximately 200 courier van owner-operators to deliver its services. The contracts with these owner-operators are not being acquired by NZ Post.