CEVA targets Latam perishables with Cargex takeover
02 / 08 / 2021
Image: CEVA Logistics
CEVA Logistics has signed an agreement to purchase all shares in Colombian freight forwarder Cargex as it looks to expand in the Latam region.
The Bogotá-headquartered firm has been established for more than 25 years and its primary focus is export management of perishable goods.
The company has operations in Bogotá, Medellin, Cartagena, Buenaventura and Santa Marta. The deal also includes Cargex’s customs brokerage affiliate, Agencias de Aduanas Aduanamos.
CEVA said the deal is part of plans to grow more than 50% in all of its current markets in Latam. It expectsthe perishables market in Latin America to rise annually by 10% through to 2024.
“Airfreight will play a key role as the company expands in that growing perishables market, and the expanding CEVA SkyCapacity programme will play a critical role in connecting Latin America to international markets,” CEVA said.
The forwarder is directly represented in 10 countries in the region and has 10,000 employees across 40 locations.
Already operating in Colombia and Ecuador, CEVA will maintain its current Colombian presence in Bogotá, Medellin, Cali, Buenaventura, Cartagena, Ipiales and Santa Marta, as well as its offices in Guayaquil and Quito in Ecuador.
Cargex general manager Pablo Torres will join CEVA Logistics as director of perishables for Colombia and Ecuador.
Mathieu Friedberg, chief executive officer, CEVA Logistics, said: “With the addition of Cargex, CEVA Logistics continues its strategic push to capitalise on growing global and regional market segments.
“This acquisition is the perfect follow-on to our merger and acquisition activity in Africa over the past 12 months. With our global scale, we are able to see geographic and industry market segments primed for growth, and our experienced local teams are then able to seamlessly deliver the responsive logistics solutions that our customers have come to expect from us.”
Nadia Ribeiro, managing director for Latin America, CEVA Logistics, added: “Our strength in the perishables market continues to grow. Our position in Peru and Chile, and most recently in Brazil, reflects our successful strategy to create reliable local lines of business and lasting relationships with airline partners, as well as to leverage cross-selling opportunities in ocean freight in refrigerated containers.
“The local country teams are composed of industry experts with long-standing commercial relationships, enabling our customers to benefit from local expertise and a global network.”