FedEx Express has acquired the business and assets of the international express division of Israeli firm Flying Cargo Group.
The Israeli Competition Authority granted merger approval for the acquisition on 20 February.
Flying Cargo Group provides logistics services, warehousing, fulfilment and distribution in Israel.
It provides the services from its own facilities throughout the country including e-commerce, returns management and domestic pick-up and delivery.
Avi and Dany Reik, owners of Flying Cargo Group say: “For nearly 30 years, we have operated as the FedEx Express licensee in the Israeli market, making the FedEx values, culture, innovation and unmatched global network accessible to Israeli customers. We are sure that this transaction will provide even better opportunities to our loyal customers and employees.”
Bert Nappier, president of FedEx Express Europe and CEO of TNT Express says: “With ten weekly flights to and from Tel Aviv, our customers benefit from seamless connections to destinations all over the world, creating more possibilities for their businesses. In the near future, by bringing together FedEx and TNT in Israel, customers will benefit from a combined network that is stronger than ever before.”