FedEx said that when the transaction is made official Manton will be a subsidiary of the its FedEx Trade Networks operating company.
Global transportation and logistics services provider FedExsaid this week it has entered into an agreement to acquire Sydney, Australia-based logistics, freight forwarding and customs brokerage services provider Manton Air-Sea Pty Ltd.
Financial terms of the transaction were not disclosed, and FedEx said it is expected to close later in 2018. FedEx said that when the transaction is made official Manton will be a subsidiary of the its FedEx Trade Networks operating company.
FedEx officials said that Manton’s services will help to augment and expand the myriad parts of the FedEx portfolio that focus on global e-commerce. And they added that Manton connects customers to global markets through regional gateways and relationships with multiple air carriers. Manton is well established in the healthcare and automotive sectors, with expertise in air and ocean freight forwarding, and customs brokerage services.
“Adding Manton’s 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, in a statement. “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.”
A FedEx officlal told LM that the acquisition of Manton marks a further expansion of the FedEx global portfolio, specifically in freight forwarding and customs brokerage.
“Manton’s capabilities will complement our offerings in this dynamic market, and we are excited to work with them to connect people and possibilities around the world,” she said.