The Commerce Commission has approved Evergreen NZ Holdings' acquisition of ACM New Zealand, concluding that it is unlikely to reduce competition in the cash-in-transit market. The decision comes amid financial difficulties for both companies due to declining cash usage, a trend worsened by the COVID-19 pandemic. The commission noted that without the acquisition, ACM might exit the market, leading to a single provider scenario. The acquisition is expected to provide public benefits by maintaining a stable supply of cash-in-transit services.

The Commerce Commission has approved Evergreen NZ Holdings' acquisition of ACM New Zealand, concluding that it is unlikely to reduce competition in the cash-in-transit market. The decision comes amid financial difficulties for both companies due to declining cash usage, a trend worsened by the COVID-19 pandemic. The commission noted that without the acquisition, ACM might exit the market, leading to a single provider scenario. The acquisition is expected to provide public benefits by maintaining a stable supply of cash-in-transit services.