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FedEx Acquires Supaswift Businesses In Southern Africa

Stocks in this article: FDX

FedEx Corp. (NYSE: FDX) announced today that its FedEx Express subsidiary has completed the acquisition of Supaswift businesses in South Africa and six other countries, which are Botswana, Malawi, Mozambique, Namibia, Swaziland and Zambia. The acquisition process began in June 2013.

These acquisitions represent the latest step in the company’s strategy to grow its African network and service offering. FedEx Express now has direct access across the seven countries to 40 facilities and over 1,000 team members, who join the ranks of more than 300,000 FedEx team members globally. As of today, FedEx Express is offering a complete suite of export, import and domestic solutions across Southern Africa, connecting the region to more than 220 countries and territories worldwide, enhancing customers’ business flexibility and speed to market.

“Southern Africa is a key region for us,” said Frederick W. Smith, Chairman, President and Chief Executive Officer of FedEx Corp. “The region offers tremendous opportunities for both local and international customers to access new markets and increase market share.”

“FedEx Express first entered the African market in the early 1990s through an established network of Global Service Providers. Acquiring Supaswift businesses is part of our growth strategy in one of the world’s most rapidly developing regions,” said David Binks, regional president, FedEx Express Europe, Middle East, Indian Subcontinent and Africa.

The acquisitions provide FedEx Express access to an established regional ground network and extensive knowledge of the Southern Africa region.

“With this transaction now finalized, a new and exciting era begins for our customers and employees”, said Andrew Lovell, Chief Executive Officer, FedEx Express Southern Africa Proprietary Limited. “Our current and prospective customers will benefit from an enhanced service portfolio, superior quality and the FedEx global network.”

Supaswift started operations in South Africa in 1990. In 2005, Supaswift merged with MyExpress (Pty) Ltd., which had been offering FedEx Express international services in Southern Africa since 1991.

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