FedEx Corp. today announced it bought P2P Mailing Limited, a U.K.-based international parcel delivery firm, for 92 million pounds, or roughly $130 million at today’s exchange rates.
P2P offers international handling and tracking of parcels for e-retailers and says it works with last-mile delivery services, like postal carriers, around the world. P2P also has a returns processing service.
FedEx says the acquisition will allow it to serve more parts of the e-commerce market with specialized services. P2P Mailing will fall under FedEx’s subsidiary FedEx Cross Border. FedEx Cross Border was created in 2016 through a rebranding of international logistics service Bongo International. FedEx bought Bongo in December 2014.
P2P Mailing says online retailers including Marks & Spencer, The Hut Group and FeelUnique use its services. Marks & Spencer is No. 23 in the Internet Retailer Europe 500, Hut Group is No. 48 and FeelUnique is No. 243.Favorite