January 25, 2019 9:15 AM, EST

FedEx Express Agrees to Buy International Business From Israeli Firm

FedEx Express vanJohn Sommers II for Transport Topics

FedEx Express is acquiring the international express delivery business of Flying Cargo Group, a company based in Israel that has been a service partner with FedEx since 1990, company officials announced Jan. 15.

Terms of the deal, which is subject to regulatory approvals, were not disclosed.

Flying Cargo Group will continue to provide warehousing and distribution services, including e-commerce fulfillment and return goods management, in Israel, while letting FedEx take over responsibility for international shipping.

“FedEx Express will even better meet the evolving needs of customers in Israel,” Flying Cargo Group owners Avi and Dany Reik said in a statement.

FedEx Express, a unit of FedEx Corp. in Memphis, Tenn., handles shipments to more than 220 countries and territories worldwide.

FedEx ranks No. 2 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. — Transport Topics