ShopRunner
2020
Why
FedEx acquired e-commerce membership platform ShopRunner in 2020 to strengthen its online retail tools.
FedEx Corporation
Logistics and Courier ServicesFounded 1971- HQ today: Memphis, Tennessee
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
FedEx Acquisitions
6
Major Deals Covered
$9.2B
Disclosed Deal Value
What are FedEx's biggest acquisitions?
FedEx's largest disclosed acquisition here is TNT Express for $4.4B in 2016. This page covers 6 major deals from 1998 to 2020, each with its price where disclosed and the reason behind it.
- Major deals covered
- 6
- Largest deal
- TNT Express ($4.4B)
- First deal
- 1998
- Most recent
- 2020
| Company | Year | Price | Purpose |
|---|---|---|---|
| Caliber System | 1998 | $2.4B | FedEx acquired Caliber to expand beyond express delivery into ground parcel and freight. |
| American Freightways | 2001 | Undisclosed | FedEx acquired LTL carrier American Freightways, combining it with Viking Freight to form FedEx Freight. |
| Kinko's | 2004 | $2.4B | FedEx bought Kinko's for about $2.4 billion and rebranded the stores as FedEx Office. |
| Parcel Direct | 2004 | Undisclosed | FedEx acquired Parcel Direct in 2004. |
| TNT Express | 2016 | $4.4B | FedEx acquired TNT to expand European and international express capabilities. |
| ShopRunner | 2020 | Undisclosed | FedEx acquired e-commerce membership platform ShopRunner in 2020 to strengthen its online retail tools. |
- What companies has FedEx bought?
- Major acquisitions by FedEx documented here include TNT Express (2016), Kinko's (2004), Caliber System (1998), ShopRunner (2020) and Parcel Direct (2004).
- What is FedEx's most recent acquisition?
- The most recent FedEx acquisition documented here is ShopRunner, in 2020.
TNT Express
2016
$4.4B
Why
FedEx acquired TNT to expand European and international express capabilities.
Impact
The deal added a European road network and the Liege hub, but the 2017 NotPetya cyberattack on TNT systems disrupted operations and delayed integration benefits.
Outcome
TNT operations were absorbed into the FedEx international network.
Kinko's
2004
$2.4B
Why
FedEx bought Kinko's for about $2.4 billion and rebranded the stores as FedEx Office.
Parcel Direct
2004
Why
FedEx acquired Parcel Direct in 2004.
American Freightways
2001
Why
FedEx acquired LTL carrier American Freightways, combining it with Viking Freight to form FedEx Freight.
Caliber System
1998
$2.4B
Why
FedEx acquired Caliber to expand beyond express delivery into ground parcel and freight.
Impact
Caliber brought RPS, which became FedEx Ground, and Viking Freight, which later formed part of FedEx Freight.
Outcome
It turned FedEx from an air express carrier into a multi-modal transportation company.
FedEx Corporation's Growth & Acquisition Strategy
FedEx's growth plan has three parts: lower cost to serve by merging Express and Ground routes and facilities under Network 2.0, shrink and modernize the air fleet to match demand, and push into higher-yield segments such as healthcare cold chain, B2B shipping, small and mid-sized business customers, and cross-border e-commerce. Spinning off FedEx Freight in June 2026 lets management focus capital and attention on the parcel network.
How FedEx Corporation Makes Money
FedEx earns money by charging shippers to move parcels and freight through a high-fixed-cost network of aircraft, hubs, sort facilities, and delivery routes. Prices depend on weight, dimensions, distance, and speed (overnight, two-day, ground, international priority or economy), plus fuel, residential, and peak surcharges that are updated weekly or seasonally. Profit comes from filling that network: higher package density per route and yield (revenue per package) spread fixed costs over more volume. Historically FedEx Express used employee couriers while FedEx Ground used contracted service providers; Network 2.0 is folding both into one Federal Express pickup-and-delivery system. Since June 1, 2026, less-than-truckload freight revenue belongs to the separately listed FedEx Freight.
FedEx Acquisitions FAQ
What was the strategic importance of acquiring Flying Tiger Line in 1989?
In February 1989, Federal Express acquired major international cargo carrier Tiger International, Inc. (Flying Tigers) for $880 million. The acquisition gave FedEx heavy-cargo Boeing 747 freighters, extensive airport landing slots across Asia and Europe, and scheduled air routes into 21 international countries.
How did the 1998 acquisition of Caliber System create FedEx Ground?
In 1998, FedEx acquired Caliber System Inc. for $2.4 billion. Caliber brought Roadway Package System (RPS), Viking Freight, and Roberts Express. RPS was rebranded as FedEx Ground, establishing FedEx's low-cost, non-union ground parcel delivery business.
Why did FedEx acquire Kinko's in 2004 for $2.4 billion?
In 2004, FedEx acquired retail copy and document services chain Kinko's for $2.4 billion in cash. Rebranded as FedEx Office, the acquisition added 1,200 retail storefronts across the United States, giving small businesses and consumers local access to shipping and printing services.
What was the landmark ~$4.97 billion (€4.4 billion) acquisition of TNT Express in Europe completed in 2016?
In May 2016, FedEx acquired Dutch delivery leader TNT Express for €4.4 billion ($4.8 billion USD). The acquisition expanded FedEx's road delivery network across Europe, adding extensive intra-European ground delivery routes and connecting TNT's Liege hub with FedEx's Paris hub.
How did the acquisition of American Freightways in 2001 establish FedEx Freight?
In 2001 FedEx acquired LTL carrier American Freightways for about $1.2 billion and combined it with Viking Freight to form FedEx Freight, which was spun off as an independent company in June 2026.
What was the strategic acquisition of GENCO in 2015 to enter reverse logistics?
In 2015, FedEx acquired third-party logistics and reverse logistics leader GENCO for $1.4 billion. GENCO handled product returns, refurbishment, and e-commerce supply chain management for major retailers, expanding FedEx Supply Chain capabilities.
How did FedEx acquire ShopRunner in 2020 to enhance e-commerce enablement?
In December 2020, FedEx acquired e-commerce subscription platform ShopRunner, which offered free two-day shipping and smooth checkout across hundreds of brand retailers, integrating ShopRunner's merchant network into FedEx digital solutions.
What companies has FedEx acquired?
To secure retail footprints, they bought Kinko's in 2004 (now FedEx Office). To expand into Europe, they executed a massive $4.8 billion acquisition of the Dutch firm TNT Express in 2016. However, TNT was a massive headache, heavily struggling to integrate and famously suffering a devastating NotPetya cyberattack.
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