FedEx buys P2P Mailing
FedEx has bought the international e-commerce delivery solutions provider P2P Mailing Limited from The Delivery Group for £92m.
In a statement sent to Post&Parcel today (27 March), FedEx said that P2P’s capabilities “complement and expand the FedEx portfolio of offerings important to the rapidly growing global e-commerce marketplace”.
P2P will operate as a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company.
“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.”
P2P joined The Delivery Group (which includes Secure Mail and CMS) in October 2016. In February this year, P2P told Post&Parcel that it had “very big plans for 2018” and added that a big announcement would be forthcoming.
P2P’s offerings include its proprietary “TRAKPAK” software suite, a global tracked delivery solution designed to support cross-border e-commerce.
In its own statement on the sale, The Delivery Group (which was founded by growth capital investor Next Wave Partners), said that it will “continue to expand its broad range of technology-enabled distribution services, including under its existing brands: Secured Mail and CMS”.
Next Wave’s Managing Partner, Jonathan Brod, said: “Since our acquisition of P2P in 2016, the business has enjoyed tremendous growth and international expansion across many markets; a consequence of the innovation and hard work of its world class management and employees. We are delighted to have invested in P2P and its team and are excited to follow their “next wave” of growth as part of the FedEx family.”
Paul Carvell, The Delivery Group Chairman, commented: “We wish all of the employees of P2P every success under new ownership. The strong commercial relationships established over the past few years with Secured Mail and CMS will remain. The Group, with a turnover in excess of £175m, will continue to develop its focus on direct marketing mail, e commerce and managed mail services, and plans to further invest in its core services and establish new, innovative solutions for its customers.”
Malcolm Barrell, Chief Executive Officer of P2P, told Post&Parcel: “We believe this acquisition marks a significant expansion of the FedEx e-commerce portfolio. Our capabilities complement the FedEx offerings in the rapidly expanding e-commerce space, and we are excited to work together with FedEx to provide innovative solutions for customers around the world.”
