FedEx Corp. (NYSE: FDX) is expanding with a deal to buy Supaswift’s businesses in five African countries.
FedEx is buying Supaswift’s businesses in South Africa, Malawi, Mozambique, Swaziland and Zambia. The company is also in discussions to buy Supaswift’s businesses in Botswana and Namibia.
The units will operate under the FedEx Express umbrella. Terms of the deals are not disclosed.
Supaswift, headquartered in Johannesburg, South Africa, provides FedEx services to countries in southern Africa.
Once the deals are closed, FedEx will have more than 1,000 more employees and direct access to new markets.
“The acquisition of Supaswift’s businesses, once closed, will provide customers with greater access to some of the world’s most rapidly growing economies,” says Frederick Smith, CEO of FedEx.
For more on deals in emerging markets, see “10 Markets to Watch.”