FedEx has signed an agreement to acquire Tatex, the French business-to-business express transport company.
Tatex is a privately-held company with more than 1,000 employees and a nationwide network with a central hub at Lieusaint, south of Paris.
There are 35 shipping centres including six regional hubs.
The acquisition will give FedEx Express access to a nationwide domestic ground network which carries 19 million shipments and produces approximately EUR 150 million in revenue annually.
The group said the deal demonstrated its continued focus on European expansion through smart, strategic investments, and organic growth.
“FedEx has always recognised 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,” said FedEx chairman Fred Smith.
“Once the transaction closes, the combination of FedEx international reach, and the well-established and comprehensive domestic network of Tatex, will be a powerful and valuable combination that will deliver immediate value for our customers, employees and the communities in which we operate.” said Xavier Papot, President of Tatex.
FedEx Express recently announced plans to acquire Opek, a Polish shipping company. In 2006 it bought ANC in the UK.