FedEx Corp. announced this morning that it’s in talks to acquire French express delivery company Tat Express.
The development comes three weeks after Netherlands-based TNT Express agreed to a $6.7 billion cash buyout by FedEx rival UPS.
TATEX specializes in business-to-business shipments, supporting just-in-time manufacturing and other business requirements. It has more than 1,000 employees, a sort hub in Paris, six regional hubs and 29 other stations in France, as well as almost 700 vehicles. The company says it transports in excess of 19 million parcels per year representing 150 million euros ($196 million) in gross revenue. It offers a range of express and time-definite services for parcels as well as palletized freight for domestic and international transport.
FedEx Express is trying to expand organically and through small acquisitions in Europe, where it only has about a 3 percent market share of the package delivery market that is dominated by DHL and TNT Express.
FedEx Express operates an international hub in Paris and TATEX could provide a dedicated ground network to support deliveries within France. The company has a limited footprint in the rest of Europe, but has opened almost two dozen stations the past few months around the region.
The French package delivery firm is a much smaller company than TNT, which has an extensive network in Europe and operates globally.
Earlier this month, FedEx said it planned to acquire Polish courier Opek. — Eric Kulisch
FedEx negotiates for French express carrier
