FedEx Corp. (NYSE:FDX) announced today that it has agreed to acquire Manton Air-Sea Pty Ltd, a leading provider of logistics services, including freight forwarding and customs brokerage solutions. Mantons capabilities complement and expand the FedEx portfolio of offerings essential to the rapidly growing global commerce landscape. The acquisition is expected to close later this year and is subject to customary closing conditions.
With operations across Australia, Manton connects customers to global markets through regional gateways and relationships with multiple air carriers. With specific expertise in the healthcare and automotive markets, Manton is a proven leader in air and ocean freight forwarding solutions, as well as customs brokerage.
Headquartered in Sydney, Australia, Manton will operate as a subsidiary of the FedEx Trade Networks operating company.
Adding Mantons capabilities to FedEx Trade Networks and the broader FedEx portfolio will open up opportunities for us to continue to expand in Australia, a country with a strong GDP and a significant market in the Asia Pacific region, said Richard W. Smith, president and CEO, FedEx Trade Networks. We look forward to potential business opportunities through the collaboration between Manton and FedEx Trade Networks with the FedEx Express and TNT presence in Asia Pacific and Australia. We are delighted to add the Manton team members to the FedEx family of companies and combine the talents of both teams to contribute to our continued success.
We have long admired the FedEx Trade Networks team, recognizing their growth and expansion over the past several years, said Michael Rolls, managing director, Manton. We look forward to joining FedEx and working together to expand in Australia and other markets.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $67 billion, the company offers integrated business solutions through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the worlds most admired and trusted employers, FedEx inspires its more than 425,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about how FedEx connects people and possibilities around the world, please visit about.fedex.com.
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