FedEx to acquire Supaswift businesses in Southern Africa
NYSE-listed FedEx Corporation has completed the first stage of the acquisition of one of its service providers, Supaswift, as well as Supaswift’s subsidiaries in South Africa, Malawi, Mozambique, Swaziland and Zambia.
It is also in negotiations to acquire Supaswift’s businesses in Botswana and Namibia.
The acquired businesses would operate under the FedEx Express business unit.
Once the acquisition is completed, FedEx Express will have direct access across the seven markets to 39 facilities. It will offer a suite of FedEx branded export, import and domestic solutions, connecting Southern Africa to more than 220 countries and territories worldwide.
“The acquisition of Supaswift’s businesses, once closed, will provide customers with greater access to some of the world’s most rapidly growing economies. It is an important step in our international growth strategy and further strengthens our FedEx Express portfolio,” said FedEx chairperson, president and CEO Frederick Smith.
Supaswift CEO Andrew Lovell added that the acquisition would put the company in a solid position to meet the growing needs of its customers.
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