FedEx Buys British Transportation Firm for $234 Million
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“The addition of ANC significantly expands our service portfolio in the important UK market and underscores our continuing commitment to grow the FedEx international business,” said Michael Ducker, president of FedEx Express’ international unit.
edEx Corp. said Monday it bought domestic British transportation firm ANC for $234 million.
The move will allow the company to compete directly in Europe against rivals such as UPS Inc., Netherlands-based TNT NV and Germany’s Deutsche Post, Bloomberg reported.
ANC has distribution and logistics services, with annual revenue of about $285 million. It employees 4,500 and has a fleet of 2,200 vehicles in 80 locations.
FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
