LONDON--Dec. 18, 2006--FedEx Corporation (NYSE: FDX) today announced it has acquired ANC Holdings Limited, a United Kingdom domestic express transportation company for GBP 120 million. This transaction will allow FedEx Express, an operating unit of FedEx Corp., to directly serve the entire
ANC offers a comprehensive range of distribution and logistics services with an established pick-up and delivery network across the
"The addition of ANC significantly expands our service portfolio in the important
"As the UK market continues to evolve and expand, customers increasingly seek a single provider of solutions for their domestic and international shipping to more efficiently manage their global supply chains," said Robert W. Elliott, president, Europe, Middle East, Africa and Indian subcontinent, FedEx Express. "This acquisition gives our customers access to broader business and transportation services and supports the delivery of an outstanding customer experience each and every day."
ANC management will remain in place and report directly to Elliott. As part of the transaction, ANC shareholder LDC - the private equity division of Lloyds TSB Group plc - will exit its investment.
"The acquisition of ANC by FedEx, a world-class company known for its premium service and dedication to its people, presents new opportunities for our customers and employees," said Mark Gittins, chief executive officer of ANC. "Our two companies share similar values in providing an excellent customer experience, investing in our people and our commitment to being good corporate citizens."
JPMorgan Cazenove acted as financial adviser to FedEx Corporation on the transaction. KPMG advised ANC Holdings Limited.
About FedEx Express
FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $33 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 275,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit www.fedex.com.