FedEx strengthens Latin America operations with Cargex acquisition
02 / 09 / 2019
By Rachelle Harry
FexEx has announced that it will acquire Colombian freight forwarder Cargex.
Cargex, a specialist in the transportation of perishable goods, has been established for more than 25 years. Headquartered in Bogotá, Colombia, the company operates in Bogotá, Medellin, Cartagena, Buenaventura and Santa Marta.
The deal, which expected to close later this year, will strengthen FedEx’s airfreight forwarding and customs brokerage capabilities in Colombia and throughout Latin America. Upon closing, Cargex will operate as a subsidiary of FexEx. As part of the deal, FexEx will also acquire Agencias de Aduanas Aduanamos S.A. Nivel 2, an affiliate of Cargex that specialises in customs brokerage services.
“The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us,” said Udo Lange, chief operating officer and incoming president and chief executive, FedEx Logistics. “This acquisition perfectly complements the roundtrip Colombia-to-Miami flight recently announced by FedEx Express. We will connect customers throughout the Latin American market with even more possibilities by combining world-class FedEx transportation solutions with a comprehensive line of logistics service offerings. We look forward to welcoming our new team members into the FedEx family and will utilize their expertise to make this integration a success.”
Pablo Torres, general manager and Angela Torres, commercial manager, at Cargex, added: “The Cargex team looks forward to joining FedEx and combining its experience with theirs to expand business opportunities in the Latin American region. With this acquisition, we will have access to an even larger global network, allowing us to help customers reach even more markets around the world.”