FedEx Completes Acquisition of French Firm Tatex

FedEx Corp. said Tuesday it has completed its acquisition of French express-delivery company Tatex, part of its strategy expand its European business.

Terms were not disclosed about the deal, which FedEx first announced in May.

Tatex, formerly known as TAT Express, was founded in 1976 and has annual sales of about 150 million euros ($194 million). It focuses on heavy shipments between businesses.

“France offers tremendous opportunities for companies wishing to explore new markets and increase their business,” FedEx Chairman and CEO Frederick Smith said in a statement.

FedEx is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.