FedEx Corp., Memphis, Tennessee, has announced the completion of its acquisition of GENCO Distribution System Inc., a Pittsburgh-based third-party reverse logistics provider. The acquisition was first announced on Dec. 15, 2014.
FedEx says the deal will give offer its customers logistics services that complement those already provided by FedEx.
Pittsburgh-based GENCO’s reverse logistics services often place them within the return, repair, refurbishing and recycling supply chain of retailers, consumer products, telecom and appliance manufacturers, as described in this April 2009 Recycling Today article.
“We are extremely pleased to welcome GENCO teammates to the FedEx family,” says Frederick Smith, chairman and CEO of FedEx Corp. “We believe this acquisition demonstrates our commitment to our customers with enhanced supply chain and logistics offerings, which will also continue to drive growth. We look forward to starting the integration process.”
Following the acquisition, GENCO will operate as a subsidiary of FedEx Corp. and will continue to be led by Todd Peters, GENCO’s CEO.
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