FedEx unveils strategic acquisition deal in Southern Africa, including Malawi
The US express transportation giant FedEx Corp. Thursday announced it has completed the first stage of what it calls “a strategic acquisition” to acquire businesses operated by its current service provider Supaswift (Pty) Ltd. in five southern African countries including Malawi.
According to a statement FedEx Corp. made available to Nyasa Times in the Malawi commercial capital of Blantyre, other countries are Mozambique, South Africa, Swaziland and Zambia.
FedEx Corp also said they are in discussions to acquire Supaswift’s businesses in Botswana and Namibia.
“These acquisitions will operate under the FedEx Express business unit and the transaction is subject to necessary regulatory approvals and customary closing conditions,” the statement says.
Once the acquisition is completed, FedEx Express will have direct access across the seven markets to 39 facilities and will welcome approximately 1,000 of Supaswift’s team members, who will join the ranks of more than 300,000 FedEx team members globally.
FedEx Express will then offer a complete suite of FedEx branded export, import and domestic solutions, connecting Southern Africa to more than 220 countries and territories worldwide, enhancing customers’ business flexibility and speed to market, according to the company.
“The acquisition of Supaswift’s businesses, once closed, will provide customers with greater access to some of the world’s most rapidly growing economies,” said Frederick W. Smith, Chairman, President and Chief Executive Officer of FedEx Corp. “It is an important step in our international growth strategy and further strengthens our FedEx Express portfolio.”
Gerald P. Leary, President of FedEx Express Europe, Middle East, Indian Subcontinent and Africa, added: “FedEx Express has been active in Africa since the early 1990’s, through a well-established network of Global Service Providers. This acquisition, once completed, will reaffirm our support to customers in this region.”
“We are joining one of the most admired companies and best places to work globally. The transaction, once closed, will put us in a solid position to meet the growing needs of our customers, representing a common commitment to offer an enhanced service portfolio and superior quality to both current and prospective customers,” said Andrew Lovell, Chief Executive Officer, Supaswift (Pty) Ltd.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services.
FedEx Express is the world’s largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories worldwide. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.
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