FedEx to acquire GENCO for ecommerce business development

Monday 22 December 2014 10:38 CET | News

FedEx, a logistics company, has acquired the US third-party logistics company GENCO to expand in the retail and ecommerce sectors.

GENCO is active in reverse logistics services including product testing and repair, re-marketing, resale and recycling, reports. It has blue-chip clients including retail company Sears and mobile phone carrier AT&T.

GENCO now generates a USD 1.6 billion annual turnover, employing more than 11,000 people at more than 130 locations, FedEx said.

In 2014, GENCO’s resale business, GENCO Marketplace, liquidated more than USD 2.5 billion in products returned to retailers via a network of online sellers, discount retailers, auction firms and other entrepreneurs.

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Keywords: FedEx, GENCO, ecommerce, logistics, delivery, acquisition, expansion, customer, parcel
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce