FedEx Completes Genco Purchase
FedEx Corp. announced on Friday it completed the acquisition of Genco Distribution System Inc., one of the largest third-party logistics providers in North America.
FedEx Corp. announced on Friday it completed the acquisition of Genco Distribution System Inc., one of the largest third-party logistics providers in North America.
The acquisition, announced on Dec. 15, will offer customers a more comprehensive portfolio of logistics services, according to FedEx. Terms of the deal have not been released but Genco reportedly has annual revenues of more than $1.5 billion.
We believe this acquisition demonstrates our commitment to our customers with enhanced supply chain and logistics offerings, which will also continue to drive growth,” said said Frederick W. Smith, chairman and CEO of FedEx Corp.
With the completion of this acquisition, Genco will now operate as a subsidiary of FedEx Corp. and will continue to be led by Todd R. Peters, CEO.
Financials will be reported through the FedEx Ground business segment.
More Fleet Management
What Geotab's New AI Connector Means for Fleets
Fleets can now ask their usual AI assistants questions about maintenance, safety, fuel use, and vehicle performance, using their live Geotab data, and take action on the answers without leaving their preferred AI tool.
Read More →
New C.H. Robinson Tool Opens Door to More Predictable Freight
BidBoardX lets carriers search, bid on, and secure committed freight opportunities through a single digital marketplace.
Read More →
New York City's Microhub Project is Delivering Results
Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.
Read More →
Why Truck Detention Keeps Costing Fleets Time and Money
A 2024 ATRI study found detention affects nearly 40% of truckload stops and costs the industry more than $15 billion annually. Despite the toll on drivers, fleets, and supply chains, the problem remains stubbornly persistent.
Read More →
Time is Running Out to Apply for Exclusive HDT Event
Heavy Duty Trucking Exchange brings fleet managers and suppliers together for the deeper conversations that lead to ideas, partnerships, and solutions. Time is running out to apply for the September event.
Read More →
Amazon Launches Less-Than-Truckload Freight Offering for All Businesses
This launch is the latest addition to Amazon Supply Chain Services, a portfolio of supply chain capabilities from Amazon, including freight, distribution, fulfillment, and parcel shipping.
Read More →
Import Cargo Volume to See Year-Over-Year Gain Again in June, Then Remain Below 2025 Levels Into Fall
After July, the report predicts a weakening in import volume as consumer uncertainty remains high and the impact of increasing inflation takes its toll.
Read More →
AUCTION OF EQUITY INTEREST IN HEAVY HAUL TRUCKING COMPANY!!
Mark your calendar: June 30, 2026 (10:00 a.m. PDT). A 37.5% ownership interest in MagnaTrans, LLC, a California limited liability company doing business as Magna Transportation Group, will be sold in an in-person and online auction to the highest bidder or bidders under Article 9 of the Uniform Commercial Code. The Rancho Cucamonga-based heavy haul and over-dimensional trucking company operates across California, Oregon, and Arizona.
Read More →
Volvo Trucks Adds Unattended Over-the-Air Software Update Capabilities
The latest evolution of Volvo’s over-the-air update technology allows software updates to run while trucks are parked, helping fleets keep vehicles current without disrupting operations.
Read More →
How Waste Connections is Using Data, Telematics, and AI
How do you manage and maintain more than 18,000 connected trucks? Data. Lots of it.
Read More →