FedEx revealed the purchase prices for its acquisitions of GENCO and Bongo International.
FedEx paid $1.4 billion to acquire third-party logistics provider GENCO in January, the Memphis, Tenn.-based integrator said in its quarterly report to the Securities and Exchange Commission last week. It also paid $42 million to purchase Bongo International, an e-commerce service provider.
The company announced the GENCO acquisition in December 2014 and the Bongo International purchase just one day later. Neither price was disclosed at the time the purchases were announced.
GENCO is a $1.6 billion 3PL with extensive contract logistics, transportation management and e-commerce fulfillment contracts and is considered a pioneer in the area of returns management.
FedEx paid $1.4b for GENCO
