FedEx buying spree continues, this time in Brazil

FedEx continues to ramp up its buying spree.

Today, FedEx announced it was buying Brazilian transportation and logistics company Rapidao Cometa Logistica e Transportes.

It is FedEx's third deal this year, after announcing zero purchases last year and completing only three deals total since 2007, according to CapitalIQ.

Earlier this year it announced agreements to purchase Poland's Opek SP.zo.o and France's TATEX. FedEx has not revealed transaction details on any of this year's pacts.

The deals follows rival UPS's purchase of TNT Express for $6.8 billion in March. At the time, analysts said UPS's mega-deal would put pressure on FedEx, particularly internationally, and some even wondered if FedEx would try to launch a hostile bid.

Instead, FedEx has gone with several small purchases.

According to CapitalIQ, FedEx, or its subsidiaries, have bought 25 companies since 1997, the biggest deal being that year's $2.68 billion purchase of Caliber System Inc., followed closely by the 2004 $2.6 billion deal for Kinko's.

(Published by WSJ - May 29, 2012)