To expand its domestic ground network and overall business in Latin America, FedEx Corp. has announced an agreement to acquire the Brazilian transportation and logistics company Rapidão Cometa Logística e Transportes S.A.
The move will help FedEx improve its international express and Brazilian shipping offerings.
FedEx Express customers will, when the deal is finalized, gain access Rapidão Cometa’s nationwide domestic transportation and logistics network. FedEx said it expects the deal to close in the third quarter of this year, though it is subject to the customary closing conditions.
Rapidão Cometa has been a FedEx-authorized representative in Brazil for the past 11 years.
“Brazil is a market with tremendous growth potential—both in the overall economy, as well as in the logistics sector. The acquisition of Rapidão Cometa—one of the largest logistics solutions providers in Brazil—is in line with our long-term strategy to grow our Latin American business,” said Juan Cento, president of FedEx Express for Latin America and the Caribbean.
For the purchase, FedEx said it will gain the following benefits:
- Forty-five branches and 145 distribution points.
- Nearly 770 vehicles and trailers.
- Regional logistics and distribution products and services.
- A ground distribution network that provides day-definite shipments.
- Some 9,000 Brazilian employees.
FedEx hopes the integration will finish in the next 18 to 24 months. - Geoff Whiting