FedEx Corp has acquiredANC Holdings, a UK domesticexpress transportationcompany, for Â£120 million,enabling FedEx Express todirectly serve the entire UKdomestic market.
ANC offers a comprehensiverange of distributionand logistics services with anestablished pick-up and deliverynetwork across the UK.
Founded in 1981, ANC’sannual revenues exceedÂ£145 million. The companycurrently operates with a networkof approximately 4,500people and a fleet of 2,200vehicles from 80 locations.
"The addition of ANC significantlyexpands our serviceportfolio in the importantUK market and underscoresour continuing commitmentto grow the FedEx internationalbusiness," said MichaelDucker, president, International,FedEx Express.
ANC management willremain in place and reportdirectly to Robert Elliott,FedEx Express president,EMEA & Indian subcontinent.As part of the transaction,ANC shareholder LDC– the private equity divisionof Lloyds TSB Group – willexit its investment.