FedEx to acquire French transportation company
One month after FedEx Corp. agreed to purchase Polish shipping company Opek Sp.z o.o., the company announced plans to procure French business-to-business express company Tatex. The exact terms of the deal haven’t been disclosed, but the acquisition will give FedEx Express access to a domestic ground network that handles 19 million shipments a year and generates approximately €150 million in annual revenue.
According to a press release, the integrator’s acquisition of Tatex also demonstrates its “continued focus on European expansion through smart, strategic investments and organic growth.” In fact, the past seven months have seen the launch of 38 new FedEx offices across Europe, half of which are located in France.
Frederick W. Smith, CEO of FedEx Corp., said the Tatex acquisition will boost the company’s operations in Europe even more. “FedEx has always recognized the importance of our Europe, Middle East, Indian Subcontinent and Africa — EMEA — region and its many unique marketplaces to global trade, and this acquisition shows we are continuing to systematically and strategically invest in growing our network and value proposition in these important areas of the world,” he said in a statement.
“The Tatex business complements FedEx’s existing operations in the French market, and will enable the company to provide additional local services in one of Europe’s largest geographies, to its customers around the world,” Smith continued.
FedEx Express EMEA President Gerald Leary echoed Smith’s statements, commenting that customer demand drove the company’s decision to expand in Europe. And, France, in particular, “has always been a key market for FedEx,” Learly said — a position that will be strengthened with the Tatex acquisition, he added.
UPS is also looking to expand in the European market, as evidenced by its March acquisition of Dutch logistics firm TNT Express for $6.77 billion.