- 16 January 2019
- Transport / Logistics Services
FedEx has acquired the Israel based Flying Cargo Group. The two firms have worked together for nearly 30 years until the acquisition, and comes as a contract between them was due to be renewed.
“Israel has been and remains an important market for FedEx, and our strong reputation in the market is built on nearly 30 years of trust with our partner and the employees of Flying Cargo,” said Bert Nappier, president of FedEx Express Europe and CEO of TNT. “This exciting acquisition, once closed, leverages that relationship to offer customers an even broader portfolio of services with a seamless link to our unrivaled global network.”
“It was a privilege introducing FedEx Express to the Israeli market,” said Avi and Dany Reik, owners of Flying Cargo Group. “This step demonstrates the successful relationship. We are convinced that while the Flying Cargo Group will continue to develop our other logistics and distribution businesses, FedEx Express will even better meet the evolving needs of customers in Israel.”
The Flying Cargo Group is a leader in logistics services, warehousing, fulfilment and distribution of goods in Israel. The services offered by the Flying Cargo Group include e-commerce, return goods services and domestic pick-up and delivery in Israel, and it will continue to own and manage these activities.
The acquisition is anticipated to close in the first half of calendar year 2019 and is subject to regulatory approval.