FedEx looks to buy French express firm, 2 weeks after Polish purchase
2012 04 24
- Details
FEDEX has confirmed that it is in talks to buy the Paris-based express company Tatex in a bid to expand its European footprint by taking over small to mid-sized delivery companies.
The news comes two weeks after FedEx bought Polish courier company Opek in its first European acquisition following United Parcel Service's US$6.8 billion takeover of Netherlands-based TNT Express.
Tatex is a 36-year-old B2B parcel and heavy-lift express company with a 1,000 employees running a nationwide network that carries 19 million parcels a year and specialises in the high tech, spare parts, automotive, clothing, and generates annual revenues of $198 million.
The acquisitions will reportedly increase FedEx Europe revenue by $270 million. FedEx is also said be bidding for the European assets UPS and TNT Express which may be forced to divest to win merger approval from EU competition authorities.
FedEx has opened 26 new stations across France, Germany, Italy, the Netherlands, Sweden and Northern Ireland so far in fiscal 2012.
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