Hellmann becomes sole shareholder of Peruvian joint venture
17 / 08 / 2022
By Rebecca Jeffrey
Source: Hellmann Worldwide Logistics
Hellmann Worldwide Logistics now owns 100% of shares in the Peruvian joint venture (JV) Hellmann Worldwide Logistics S.A.C.
The German logistics company previously owned 50% of shares in the JV, but through the purchase of the remaining 50% of shares, which were held by president of the board Carlos Augusto Dammert, Hellmann has become the sole shareholder.
The acquisition allows the former JV to be fully integrated into Hellmann’s global network, expanding the service portfolio for customers and generating further sustainable growth in Peru and the entire Americas region.
Hellmann has been active in Peru since 1992 and established the JV together with Dammert in 1998. In the last 30 years, the company has become a leader in the Peruvian logistics market, being one of the largest airfreight export forwarders, focusing mainly on perishable logistics.
While Hellmann will further expand its perishables business, it also intends to strengthen the company’s market position in other business areas – such as automotive logistics – and to expand its customer portfolio beyond Peru’s borders.
Jose Luis Moreano will continue to shape further development as general manager, together with Dammert, who will act in an advisory capacity.
“Peru is an important and growing market in South America. Based on our robust operational performance and our strong presence in the region, Hellmann is well positioned to grow the business and to further expand our market position,” said Reiner Heiken, chief executive, Hellmann Worldwide Logistics.
“The acquisition of future-oriented businesses is an integral part of our global growth strategy. Going forward we will continue to look out for attractive targets which complement and strengthen our global Hellmann network,” said Andreas Lamping, chief legal officer and head of mergers and acquisitions, Hellmann Worldwide Logistics.
“I am very happy about the goals we have achieved in the last 30 years together with our team in Peru. Now it is time to fully integrate the company into the global Hellmann network to become an even stronger logistic partner for our esteemed customers in Peru and beyond,” added Dammert.
In June, Hellmann announced it would take over the Czech and Slovakian-based overnight express provider OptimNet Solutions s.r.o. to continue its expansion strategy in the overnight express services segment and tap into another important part of the Central and Eastern European market.