The Delivery Group has sold P2P, it’s international ecommerce delivery solutions subsidiary, to FedEx Corporation, a global giant in cross-border delivery services, for an enterprise value of £92 million.
“Since our acquisition of P2P in 2016, the business has enjoyed tremendous growth and international expansion across many markets; a consequence of the innovation and hard work of its world class management and employees. We are delighted to have invested in P2P and its team and are excited to follow their “next wave” of growth as part of the FedEx family.”
– Managing Partner, Jonathan Brod
P2P provides customers with unique last-mile delivery options, leveraging its relationships with private, postal, retail and clearance providers in over 200 countries. Its industry-leading technology and processes provide plug-and-play options with carrier networks and customer systems.
P2P is headquartered in Laindon, United Kingdom and will now operate as a subsidiary of FedEx Cross Border within the FedEx Trade Networks operating company.
“Global e-commerce continues to grow at a rapid pace, and more and more merchants, marketplaces, e-commerce and social platforms are looking for innovative, cost-effective ways to get merchandise from distribution points in one country to customers in another. By adding P2P to the FedEx portfolio, we will be able to effectively serve even more elements of the e-commerce market.”
– Carl W. Asmus, president and CEO, FedEx Cross Border
The Delivery Group which themselves acquired P2P mailing in 2016, now consists of Secured Mail and CMS Network.
