FedEx to Buy 3PL Genco
FedEx agreed to buy third-party logistics company Genco for an undisclosed amount, the companies said Dec. 15 (here). Genco specializes in "reverse logistics, providing triage, test and repair, remarketing and product liquidation solutions," the companies said. "As e-commerce continues to…
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grow, customers of both companies will reap the benefits from the broadened capabilities and powerful new services,” said FedEx CEO Frederick Smith. The deal, expected to be completed in 2016, is subject to U.S. and Canadian regulatory closing conditions, the companies said.