With an eye on further expansion of its e-commerce business and related reverse logistics processes, transportation and logistics bellwether FedEx this week said it has inked an agreement to acquire Pittsburgh-based GENCO, a third-party logistics (3PL) services provider specializing in product lifecycle and reverse logistics.
Financial terms of the deal were not disclosed, but more information is expected to be released tomorrow, when FedEx announces its Fiscal Year 2015 second quarter earnings. FedEx said GENCO will continue to operate as an independent company until the deal is complete in early 2015.
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Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
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