TNT acquire Brazilian delivery partner
TNT is buying its Brazilian delivery partner, Expresso Aracatuba Transportes e Logistica, for $70.3m, as part of an expansion of its Brazil operations.
TNT is buying its Brazilian delivery partner, Expresso Aracatuba Transportes e Logistica, for $70.3m, as part of an expansion of its Brazil operations.
TNT said it would take a 51% stake in Expresso Aracatuba, which posted revenue of $132.7m in 2008, in May of 2009 and the remaining stake a year later.
Expresso Aracatuba’s earnings before interest, taxes, depreciation and amortisation was 15.3m reais in 2008.
Expresso Aracatuba offers transportation from the South and South East of Brazil to the North and Central West regions, where pharmaceutical companies and large manufacturing plants are concentrated, TNT said.
The acquisition will help the development of transport flows between Brazil, Chile and Argentina, TNT added.
