FedEx buying parcel consolidator for $120 million - - Tulsa, OK - News, Weather, Video and Sports - |

FedEx buying parcel consolidator for $120 million

MEMPHIS, Tenn. (AP) _ FedEx is buying a company that ships orders for catalogue and Internet retailers.

FedEx officials in Memphis announced Monday morning the company will purchase Parcel Direct, paying $120-million cash.

The company will become a division of FedEx Ground.

FedEx spokesman Jess Bunn says Parcel Direct is specially designed for slower-moving, lightweight packages.

Parcel Direct is based in New Berlin, Wisconsin. It has 450 employees and revenues of about $250-million, as a division of Quad/Graphics.

Packages handled by Parcel Direct are taken to 12 company locations around the country where they are sorted and consolidated -- then taken to the US Postal Service for final delivery.
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103 is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.