William B. Cassidy, Senior Editor | May 11, 2012 5:44PM GMT
The Journal of Commerce Online - News Story
Parcel + Package
| Supply Chain Management
| Europe
| Western Europe
Express carrier strengthens international giant hand in Europe
FedEx wrapped up its second European acquisition in two months May 10, signing an agreement to purchase French express shipping company Tatex.
The business-to-business express carrier has 1,000 employees and a nationwide network in France, including a central hub in Lieusaint, just south of Paris.
Tatex carries more than 19 million parcels a year, specializing in the high-tech, spare parts, automotive and clothing sectors, and has about $198 million in revenue.
The company has 35 shipping centers including six regional hubs in France.
In April FedEx bought Polish courier company Opek, its first European acquisition following UPS’s $6.8 billion takeover of the Dutch TNT Express in mid-March.
FedEx is also growing organically in Europe, opening 26 stations across France, Germany, Italy, the Netherlands, Sweden and Northern Ireland so far in fiscal 2012.
The acquisitions of Tatex and Opek are expected to boost FedEx’s annual sales in Europe by about $270 million.
Contact William B. Cassidy at wcassidy@joc.com. Follow him on Twitter @wbcassidy_joc.
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