FedEx Express completes MultiPack buy

FedEx Express completes MultiPack buy

   FedEx Express on Monday completed the acquisition of Servicios Nacionales Mupa, S.A. de C.V., which strengthens its network in Mexico.

   'The acquisition of MultiPack further solidifies our long-term presence in the market,' said Michael L. Ducker, chief operating officer of FedEx Express, in a statement. 'FedEx is expanding its footprint in order to better meet the demands of Mexican businesses, and responding to the growth potential of this dynamic economy.'

   FedEx has started incorporating MultiPack's existing operations and infrastructure into its network. Full integration is to be achieved in phases, the company said.

   MultiPack's operations include its pickup and delivery network, warehousing and logistics services, 48 distribution centers, 13 warehouses and more than 500 retail outlets, all of which are to be consolidated into the FedEx business. FedEx said it 'aims to achieve a seamless transition for employees and customers in Mexico.'

   J.P. Morgan Securities LLC acted as financial advisor to FedEx for the transaction.