FedEx Expands with the Acquisition of GENCO

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FedEx announced it would acquire GENCO, a third party logistics provider. The acquisition will expand existing FedEx service offerings in the evolving retail and ecommerce markets, according to a press release.

“The acquisition of GENCO will transform our global portfolio through the addition of new best in class supply chain management services, said Frederick Smith,  chairman and CEO of FedEx Corp in the press release. “As ecommerce continues to grow, customers of both companies will reap the benefits from the broadened capabilities and powerful new services.”

“With similar corporate cultures, shared values and unwavering focus on developing world-class logistics solutions, FedEx and GENCO are a great fit,” said Herb Shear, GENCO executive chairman to the Pittsburgh Business Times.  “I am especially pleased that Todd Peters will continue as GENCO CEO and to know that our teammates everywhere will make significant and lasting contributions to our customers as members of the FedEx family.”

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