FedEx Acquires International Express Business of Flying Cargo Group in Israel
FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, and Flying Cargo Group jointly announce that FedEx Express has acquired the business and assets of the international express division of FC (Flying Cargo) Express Ltd. The Israeli Competition Authority granted merger approval for the acquisition on February 20, 2019.
“For nearly 30 years, we have operated as the FedEx Express licensee in the Israeli market, making the FedEx values, culture, innovation and unmatched global network accessible to Israeli customers. We are sure that this transaction will provide even better opportunities to our loyal customers and employees”, said Avi and Dany Reik, owners of Flying Cargo Group.
“With ten weekly flights to and from Tel Aviv, our customers benefit from seamless connections to destinations all over the world, creating more possibilities for their businesses,” said Bert Nappier, President of FedEx Express Europe and CEO of TNT Express. “In the near future, by bringing together FedEx and TNT in Israel, customers will benefit from a combined network that is stronger than ever before.”
FedEx Express began serving Israel in 1990 through the Flying Cargo Group, providing a wide range of international express transportation services, including import and export of shipments to more than 220 countries and territories worldwide. Since May 2016, TNT Express, including TNT in Israel, has been part of the global FedEx Express group of companies.
Flying Cargo Group is a leader in logistics services, warehousing, fulfillment and distribution of goods in Israel. Flying Cargo Group provides these services from its own facilities throughout the country, including the e-commerce, returns management and domestic pick-up and delivery in Israel. These businesses will continue to be owned and managed by Flying Cargo under the FC brand.
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