December 31, 2003
Fedex and Kinkos get married
My spin: Walk into just about any Kinkos location and you'd see a Federal Express counter. Well now FedEx is buying Kinkos. Its a very good fit I think. Kinko's image and brand of fast, quick and efficient is just what FedEx is about. UPS bought MailBoxes etc, I think. some time back also.
These blends go hand in hand.
The Miami Herald reads: FedEx Corp., the world's largest overnight package-delivery company, has agreed to acquire the closely held copy-center chain Kinko's for $2.4 billion in cash in the hope of selling more mailing and related services to small businesses.
The agreement with Clayton, Dubilier & Rice, an investment firm that owns 75 percent of Kinko's, will add to FedEx earnings in 2005, the companies said.
FedEx is expected to add ground shipping services to the 1,200 Kinko's U.S. stores to compete with United Parcel Service. It also plans to add to its 110 international stores. (full story)
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