FedEx Corp to acquire Watkins Motor Lines

FedEx Corp to acquire Watkins Motor Lines

The second largest package- shipping company in the United States FedEx has said in a statement that they would be acquiring Watkins Motor Lines for $780 million in cash.

This deal would help them move freight longer distances across the U.S. and to Canada.

Watkins Motor Lines is based in Florida and is the largest closely held U.S. freight company. They carry goods for multiple customers on their trucks. This deal would see them becoming a part of FedEx.

The company aims to gain more customers and business with this deal, as they would be able to now capture more freight shipments.

Currently, FedEx Freight makes 90 percent of its shipments in one or two days. They cover distances of 600 to 1,600 miles to achieve this delivery rate. This deal would help them extend the distances.