Hughes Hubbard Assists Greenbriar in Sale of Genco to FedEx


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Hughes Hubbard & Reed advised Greenbriar Equity Group in the sale of privately held logistics provider Genco to FedEx Corp.
 
Terms of the deal, announced on Dec. 15, 2014, are not public. The Deal Pipeline reported that FedEx likely paid between $1 billion and $2 billion for the company.
 
Genco will operate as a subsidiary of FedEx Corp. The acquisition, which is expected to close this quarter, will help FedEx expand its service offerings in the retail and e-commerce markets through Genco's supply chain expertise.
 
In 2010, Hughes Hubbard assisted Greenbriar, a Rye, New York-based private equity firm, in acquiring a stake in the merger of Genco and ATC Technology Corp.
 
Pittsburgh-based Genco, which has $1.6 billion in annual revenue, processes more than 600 million returned items annually from many of the world's leading brands. Genco employs more than 11,000 at about 130 operations and has customers in technology, consumer, industrial, retail and healthcare markets.
 
In addition to The Deal Pipeline, the deal made headlines in Bloomberg, Dow Jones Business News and other news outlets.
 
Chuck Samuelson represented Greenbriar in this transaction.