Associated Press-FedEx keeps mobilizing its defenses in Europe, following rival UPS’s big splash of landing TNT Express.
Today, FedEx announced it is buying TATEX, a privately-held business-to-business shipper just south of Paris. FedEx says it now has a nationwide French domestic ground network that would produce EUR 150 million ($194 million) a year in revenue. Financials on the deal weren’t revealed.
Last month, FedEx bought Opek Sp.z o.o., a private Polish shipper.
“This latest development demonstrates the company’s continued focus on European expansion through smart, strategic investments, and organic growth,” FedEx says in its release today, which sounds an awful lot like suggesting UPS’s $6.8 billion purchase wasn’t smart or strategic.
The UPS deal was seen as putting FedEx in a bind. Some thought it might have even been threatening enough that FedEx would jump in and make it a competitive battle for TNT Express.
Instead FedEx is taking the smaller approach, building up one small country at a time.