Acquisition designed to expand freight forwarding capabilities and connect customers to global markets.
FedEx Corp. announced Thursday that it has agreed to acquire Manton Air-Sea Pty Ltd, a provider of logistics services including freight forwarding and customs brokerage solutions headquartered in Sydney, Australia.
FedEx said Manton’s capabilities complement and expand its portfolio of offerings essential to the rapidly growing global commerce landscape.
The acquisition is expected to close later this year and is subject to customary closing conditions. Manton will operate as a subsidiary of the FedEx Trade Networks operating company.
With operations across Australia, Manton connects customers to global markets through regional gateways and relationships with multiple air carriers, said FedEx, adding that Manton has specific expertise in the healthcare and automotive markets.
“Adding Manton’s capabilities to FedEx Trade Networks and the broader FedEx portfolio will open up opportunities for us to continue to expand in Australia, a country with a strong GDP and a significant market in the Asia Pacific region,” said Richard W. Smith, president and CEO of FedEx Trade Networks.
“We look forward to potential business opportunities through the collaboration between Manton and FedEx Trade Networks with the FedEx Express and TNT presence in Asia Pacific and Australia,” Smith said.