Deal creates logistics giant
FedEx has completed the €4.4 billion acquisition of TNT Express – a deal that combines the strengths of the world’s largest air express network and an unparalleled European road network.
“This acquisition is a significant accomplishment and marks the beginning of a new era, filled with promise for our people, customers and shareowners,” said Frederick W. Smith, chairman and chief executive of FedEx. “We are proud to celebrate the joining of two iconic companies and the approximately 400,000 team members who are committed to serving customers around the world.
“The timing of this historic event is important, particularly in the current market environment where global e-commerce is growing at double-digit rates,” Smith added. “Adding TNT’s capabilities to our existing world-class suite of services, will further expand the ability of FedEx to support business connections around the world.
“Over our 43 year history, FedEx has repeatedly reinvented and revolutionised the industry, from the first overnight express service backed by a money-back guarantee to the invention of internet shipping. And just as we revolutionised the U.S. domestic parcel business through the acquisition and development of what is now FedEx Ground, the acquisition of TNT will change the way customers view FedEx around the world,” Smith continued.
FedEx provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services, while TNT Express is one of the world’s largest express delivery companies, delivering daily close to one million consignments ranging from documents and parcels to palletised freight.