FedEx buys UK e-commerce specialist P2P for £92m
28 / 03 / 2018
US parcels giant FedEx Corp has boosted its e-commerce presence after acquiring UK-based P2P Mailing for £92m.
FedEx said in a statement that P2P provides customers with "unique last-mile delivery options, leveraging its relationships with private, postal, retail and clearance providers in over 200 countries."
P2P, headquartered in south east London, has technology and processes provide plug-and-play options with carrier networks and customer systems. It will operate as a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company.
Carl Asmus, president and chief executive, FedEx Cross Border, said: “Global e-commerce continues to grow at a rapid pace, and more and more merchants, marketplaces, e-commerce and social platforms are looking for innovative, cost-effective ways to get merchandise from distribution points in one country to customers in another.
“By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market.”
Richard Smith, president and chief executive, FedEx Trade Networks, said: “This acquisition is a further step in achieving the global mission of the FedEx Trade Networks group to provide specialized solutions to customers.
“We are pleased to welcome the P2P team members into the FedEx family of companies and look forward to combining the talents of both teams to contribute to our continued success.”
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