FedEx signed an agreement to acquire MultiPack, a Mexican domestic express package delivery company.
The company said the transaction would allow its FedEx Express business unit to enhance its position in the Mexican domestic market with more transportation and logistics options. The transaction is expected to close by June 2011, subject to regulatory approvals and customary conditions.
FedEx news from JOC:
FedEx Profit Tumbles 18 Percent.
MultiPack offers package delivery, transportation, warehousing and logistics services with an established pick-up and delivery network across all 31 Mexican states and the Distrito Federal. It operates 48 distribution centers, 13 warehouses and more than 500 retail outlets across the country.
“This acquisition will give our customers access to broader business and transportation services, leveraging MultiPack’s national expertise and infrastructure, and the FedEx global network connecting 220 countries and territories,” said Juan N. Cento, president, Latin America and Caribbean, FedEx Express.
-- Contact Thomas L. Gallagher at firstname.lastname@example.org.