FedEx Express to acquire AFL
03 Nov 2010
Bangalore: To strenghthen its domestic ground network and expand its Indian operations, US logistics leader FedEx Corp today said that it is acquiring the logistics, distribution and express businesses of privately-held AFL Pvt. Ltd and its affiliate, Unifreight India Pvt Ltd.
After the conclusion of the transaction, which is expected by February 2011, AFL chairman and managing director Cyrus Guzder will join FedEx as executive advisor.
The acquisition, made for an undisclosed sum, was carried out by the express delivery arm of FedEx, FedEx Express in India.
Founded in 1945, AFL Pvt Ltd has emerged as a recognised leader in the transportation and logistics industry in India with a comprehensive distribution and logistics network across India.
Included in the acquisition under the terms of the deal, are AFL Logistics and Distribution and AFL WiZ Express.
AFL Logistics and Distribution, specialises in supply chain management, warehousing, and a ground distribution network that provides day-definite ground transportation for small packages and heavyweight shipments through more than 200 daily scheduled routes; and
AFL WiZ Express, which offers express services through more than 160 Express Service Centers servicing more than five thousand zip codes across 144 cities in India.