FedEx has acquired P2P Mailing Limited, a leading provider of worldwide e-commerce transportation solution, for £92 million. The acquisition of P2P will expand FedEx’s portfolio of offerings, which is important to the rapidly growing global e-commerce marketplace.
Headquartered in Laindon, P2P will operate a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company, providing customers with unique last-mile delivery options and leveraging its relationships with private, postal, retail and clearance providers in over 200 countries. Its industry-leading technology and processes provide plug-and-play options with carrier networks and customer systems.
“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,” said Carl W. Asmus, president and CEO, FedEx Cross Border. “By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market.”
“This acquisition is a further step in achieving the global mission of the FedEx Trade Networks group to provide specialized solutions to customers,” said Richard W. Smith, president and CEO, FedEx Trade Networks, Inc. “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.”
FedEx Corp. provides customer and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. The company has annual revenues of $64 billion and offers integrated business applications through operating companies competing collectively and managed collaboratively under the FedEx brand.
Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its more than 425,000 team members to remain “absolutely, positively” focused on safety, the highest ethical and professional standards and the needs of their customers and communities.