FedEx Buys a British Express Company
published: cw 01, 2007 in Mergers & acquisitionsFedEx bought ANC Holdings Ltd for $237 million. ANC offers a range of distribution and logistics services within its U.K. pickup and delivery network. It has 4,500 employees, a fleet of 2,200 vehicles and serves the country from 80 locations. Move is seen as a strategic step by the package delivery company to reenter the domestic European express market.
?As the UK market continues to evolve and expand,? says Robert W. Elliott, president Europe, Middle East, Africa and Indian subcontinent, FedEx Express, ?customers increasingly seek a single provider of solutions for their domestic and international shipping to more efficiently manage their global supply chains. This acquisition gives our customers access to broader business and transportation services.?
In October 2005, UPS purchased Lynx Express Ltd, one of the UK’s largest independent parcel carriers. The acquisitions by these U.S.-based integrators demonstrate a commitment by both to significantly expand their international business.
Source: LogisticsToday
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