FleetCor Buys New Zealand's CardLink

Moving quickly to establish synergies on its Australian purchase of Fleet Card from General Electric (NYSE: GE  ) last month, Norcross, Ga.-based FleetCor (NYSE: FLT  ) is buying another fuel card-issuing and payment-processing business right next door.

On Tuesday, FleetCor announced that it has acquired the CardLink business in New Zealand, whose fuel cards have "near universal acceptance at retail fueling stations" across the island nation. Further cementing the notion that FleetCor is building a bigger business Down Under, the company announced it is shifting its own Europe and Asia "International Partner" manager, Paul Holland, to the position of managing director for Australasia in particular, "to lead the company's activities in the region."

As with last month's purchase, FleetCor says the CardLink acquisition will be accretive to earnings, adding about $0.02 per share in adjusted net income over the course of the rest of 2013.

Also as with last month's purchase, though, FleetCor did not disclose how much it paid for the company.


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