FedEx Express Completes Acquisition of MultiPack
With this Transaction, FedEx Express Will Provide A Wider Range of Domestic and International Services
FedEx Corp. (NYSE: FDX) announced today that its FedEx Express business unit has completed the acquisition of Servicios Nacionales Mupa, S.A. de C.V. (MultiPack), which strengthens the FedEx network in Mexico to meet customer demand.
This transaction will allow FedEx Express to provide a wider range of domestic and international transportation and logistics solutions in Mexico. Additionally, it reinforces the Company's commitment to the Mexican market by facilitating access of local businesses to advanced technology, expanded services to meet their transportation and logistics needs, and an extensive retail presence throughout the Mexican Republic.
"The acquisition of MultiPack further solidifies our long-term presence in the market," said Michael L. Ducker, chief operating officer, FedEx Express. "FedEx is expanding its footprint in order to better meet the demands of Mexican businesses, and responding to the growth potential of this dynamic economy. The integration of the companies will create a winning combination of global reach and national expertise, backed by a commitment to service excellence," added Ducker.
FedEx started today incorporating MultiPack's existing operations and infrastructure into its network; full integration will be achieved in phases. MultiPack's existing operations include its pick-up and delivery network, warehousing and logistics services, 48 distribution centers, 13 warehouses and more than 500 retail outlets, all of which will be consolidated into the FedEx business. FedEx aims to achieve a seamless transition for employees and customers in Mexico.
Nothing changes for customers today and business continues as usual with no modification to points of contact or services. As integration progresses, customers in Mexico will have direct access to a complete portfolio of domestic and international transportation and logistics solutions under the trusted FedEx brand, allowing them to reach all the states of the Mexican Republic and more than 220 countries and territories worldwide, ultimately improving Mexico's competitiveness in the global marketplace.
"The integration of these companies will allow FedEx to offer a very robust portfolio of transportation and logistics services," said Juan Cento, president of FedEx Express Latin America and Caribbean, "and that will translate into direct benefits to our customers. By acquiring MultiPack, FedEx upholds its core values of keeping customers at the heart of all it does, and providing an outstanding customer experience through our most valued asset: our people."
The FedEx workforce in Mexico now accounts for more than 5,000 dedicated employees across the country. The Company maintains its founding philosophy of People-Service-Profit, which creates an environment that has been key in consistently placing FedEx in the top ten companies of the Great Place to Work ranking in Mexico for the last seven years.
J.P. Morgan Securities, LLC acted as financial advisor to FedEx.
About FedEx Express
FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to every U.S. address and more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, usually in one to two business days, backed by a money-back guarantee.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $39 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 290,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities.