Media Statement

14 October 2024

Issued by Armourguard Security/Logistics Ltd Chief Executive Officer, Shane O’Halloran.

NZ Commerce Commission decision regarding Evergreen NZ Holdings and ACM Holdings (NZ) Ltd purchase and sale of ACM NZ Limited.

The NZ Commerce Commission (NZCC) has granted Evergreen NZ Holdings and ACM Holdings (NZ) Ltd clearance to complete the purchase and sale of ACM NZ Limited.

This follows an announcement on 2 April this year that Evergreen Holdings, known as Armourguard, had reached an agreement to purchase ACM New Zealand Limited (ACM). The proposed sale was conditional on the approval by NZCC.

We are pleased to see that the NZCC recognises how important consolidation of the secure cash industry is to the New Zealand economy, so that cash remains a viable and sustainable form of payment.

Armourguard Security and ACM will now merge both organisations’ CIT assets, liabilities, employees and operations into a newly formed and wholly owned subsidiary of Evergreen called Armourguard Logistics Ltd.

The new entity, headed up by myself, will continue to be managed locally leveraging Armourguard’s 85 years of New Zealand security knowledge, expertise, and CIT experience. We will continue to provide the same great level of service with the added strength of the combined knowledge and expertise of both Armourguard and ACM.

It will be business as usual as we seek to complete the transaction in February / March 2025.

This is a very exciting time for Evergreen (Armourguard) and our friends at ACM. Upon completion of this transaction (and the subsequent transition period), Armourguard CIT shall be stronger, more resilient, and better positioned to service the New Zealand cash economy.