Armourguard agrees to buy rival from Linfox
Declining cash usage has cramped the market for secure cash-in-transit services, with Linfox’s Armaguard reportedly in crisis talks in Australia.
Armourguard in New Zealand is owned by the New York-based Wolfe family through their investment company Evergreen.
Privately owned cash delivery company Armourguard has agreed to buy competitor ACM New Zealand from Australia-based Linfox Armaguard, subject to Commerce Commission approval.
The move comes as customers of Linfox’s Armaguard business in Australia were reportedly hoarding cash over Easter weekend
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