TNT Express has been acquired by FedEx. The transaction, valued at 4.4 billion euros, will enable the combination of both companies’ potential – the world’s largest air express network with an unrivaled road network in Europe. This will allow for the expansion of the existing FedEx portfolio and will influence the transformation of the global transport and logistics market.
– This acquisition is a significant achievement and a symbolic beginning of a new era, benefiting our employees, customers, and shareholders – said Frederick W. Smith, Chairman and CEO of FedEx. – We are proud to celebrate the combination of two iconic companies, creating a team of approximately 400,000 people dedicated to serving customers around the world.
– The timing of this historic event is significant, especially in the context of the current market situation, where global e-commerce is growing at a double-digit rate – added Smith. – By incorporating TNT’s capabilities into our world-class portfolio, which includes GENCO and the recently relaunched FedEx CrossBorder, we will expand the FedEx offering for entrepreneurs worldwide. In our 43-year history, FedEx has repeatedly revolutionized the industry by introducing the first overnight delivery service and the money-back guarantee. Now, as we have once again revolutionized the U.S. domestic parcel market through the acquisition and development of the courier company now known as FedEx Ground, the acquisition of TNT will change the way customers perceive us around the world.
– We believe that this strategic combination will bring significant benefits to FedEx shareholders, employees, and customers worldwide, especially in Europe, where it will create a new, strong market player – said Alan B. Graf, Jr., Executive Vice President and CFO of FedEx. – The TNT team brings 70 years of diverse experience, which, combined with the experience of the FedEx team, will be the key to the success of this integration.
Immediately following the acquisition of TNT by FedEx, the integration process will begin. FedEx’s extensive experience in previous successful integrations in North America and around the world will allow the combined companies to make sound investments in technology, infrastructure, and operational capabilities to ensure long-term growth and market success. In the near term, customers of both companies will be served as they have been, receiving the high quality of service they expect. Once the integration is complete, FedEx customers will be able to fully benefit from an expanded offering based on the combined expertise of both companies. Together, FedEx and TNT will continue to impact lives around the world, supporting the local communities where employees are present and connecting even more people and possibilities.