FedEx will acquire Polish courier company Opek Sp. z o.o, likely finalizing the sale in late summer, said Jess Bunn, manager of investor relations at FedEx. Bunn did not disclose terms of the acquisition.
This acquisition is the latest in a plan to expand FedEx’s presence in Europe, Bunn said, adding that the company first entered the Polish market in 1989. FedEx acquired ANC Holdings Limited, a UK company, and Flying Cargo Hungary Kft in 2006 and 2007, respectively.
These acquisitions make it easier for American companies to ship overseas with FedEx, Bunn said, because a bigger network makes shipping more seamless. For instance, an item no longer has to be passed from FedEx to Opek when it arrives in Poland. “It represents an easier, more comprehensive way to ship from the United States to Poland, with FedEx being the sole carrier,” he said.
So far during the fiscal year 2012, FedEx has opened 26 new stores in France, Germany, Italy, the Netherlands, Northern Ireland and Sweden, Bunn said. “We have a really strong international business,” he said. “This acquisition will help us more fully develop our portfolio.”
Opek has an estimated annual revenue of $70 million and makes about 12.5 shipments each year, FedEx said in a statement.
There are no layoffs planned at this time as a result of the acquisition, he said.
Part of why Opek seemed an obvious choice was that it was family-owned and was a good corporate citizen, he said. “It fits like a hand in a glove with FedEx,” he said.
FedEx competitor UPS has also been increasing its global presence. In March, UPS reached an agreement to acquire Dutch-based international delivery services company TNT Express.