FedEx set to acquire Australian company Manton

FedEx is set to acquire Australiabased logistics company Manton AirSea, the company announced Thursday.

The Memphis-based company is purchasing Manton for less than $10 million, according to FedEx’s website.

The acquisition should close later in the year, FedEx said in a news release. Manton will run as a FedEx Trade Networks subsidiary once the deal closes.

In a statement, FedEx Trade Networks President and CEO Richard Smith said Manton will provide an opportunity for the company to continue expanding in Australia.

“We look forward to potential business opportunities through the collaboration between Manton and FedEx Trade Networks with the FedEx Express and TNT presence in Asia Pacific and Australia,” Smith said.

“We are delighted to add the Manton team members to the FedEx family of companies and combine the talents of both teams to contribute to our continued success.”

The deal marks another acquisition of an international company by FedEx. In March, the logistics giant announced the purchase of England-based courier service P2P Mailing Limited for $130 million.

In 2016, it announced a $4.8 billion megadeal to buy courier company TNT Express, with headquarters in the Netherlands.

Manton offers air and ocean freight forwarding solutions and it has expertise in the health care and automotive markets, the release said.

Manton’s website lists various FedEx-linked services, including ocean freight services and customs brokerage, able to be bundled with FedEx transportation services. The website also notes the company has a contractual relationship with FedEx Express, among other air carriers.

“We have long admired the FedEx Trade Networks team, recognizing their growth and expansion over the past several years,” said Michael Rolls, managing director of Manton, in a statement. “We look forward to joining FedEx and working together to expand in Australia and other markets.”