P2P Mailing has been purchased by FedEx for £92 million and will operate as a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company. It comes only a couple of months after the UK company announced a rebranding and months after a fire destroyed its old warehouse in Basildon last August.
FedEx said that adding P2P to its portfolio would allow it to offer a more comprehensive service to customers. “Global e-commerce continues to grow at a rapid pace, and more and more merchants, marketplaces, e-commerce and social platforms are looking for innovative, cost-effective ways to get merchandise from distribution points in one country to customers in another,” said Carl W. Asmus, president and CEO, FedEx Cross Border. “By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market.”
“This acquisition is a further step in achieving the global mission of the FedEx Trade Networks group to provide specialized solutions to customers,” said Richard W. Smith, president and CEO, FedEx Trade Networks, Inc. “We are pleased to welcome the P2P team members into the FedEx family of companies and look forward to combining the talents of both teams to contribute to our continued success.”
Image credit: P2P