Freightways Limited has extended its presence in the Australian and New Zealand information management market with the purchase of two document destruction businesses:

Advance Security Destruction Services (Advance) provides secure document destruction services, predominantly in Sydney with smaller operations in Melbourne, Canberra and Brisbane; and

Docushred, based in Hastings, provides secure document destruction services across Hawke’s Bay and neighbouring regions.

Advance will underpin Freightways' New South Wales secure document destruction operation, further strengthening the Australian nationwide service operated by its subsidiary, Shred-X Pty Limited. Docushred will extend the geographic reach of Freightways' New Zealand business, Document Destruction Services. 

The combined purchase price for the above acquisitions, including execution costs, is approximately $NZ13 million.

The integration is planned to occur by 1 February 2014 and both acquisitions expected to be immediately EPS (earnings per share) positive.

Freightways operates in the express package & business mail and information management markets and earlier in 2013 made Management acquisitions in Document & Data Storage Management.