FedEx Express competes acquisition of Brazil’s Rapidão Cometa
FedEx Express has completed the acquisition of its Brazilian express logistics partner, Rapidão Cometa e Transportes. The acquisition will considerably strengthen FedEx Express’s direct presence in Latin America, and Brazil – the world’s sixth largest economy – as the US integrator takes on a company that had annual revenues of more than $500m in 2011.
Recife-based Rapidão Cometa has been operating about 70 years, running a range of air and freight transport and logistics services to more than 5,300 locations across Brazil.
The company has a domestic ground network of 45 branches and 145 distribution points, 770 vehicles and trailers, and 9,000 employees, delivering about 12m small packages and heavy shipments a year.
FedEx Express is expecting its workforce in Brazil to total about 9,500 once the acquired company is integrated into its network.
Juan Cento, regional president of FedEx Express Latin America and Caribbean, said: “We have enjoyed an 11-year relationship with Rapidão Cometa, and this acquisition further demonstrates our commitment to Brazilian customers and businesses.
“The integration of our companies will create a winning combination of global reach and national expertise, backed by a commitment to service excellence.”
Integration
FedEx said integration of Rapidão Cometa into an expanded FedEx Express Brazil should take 18 months to two years, with the acquired company’s president, Américo Pereira Filho, becoming vice president of FedEx Express Latin America and Caribbean and president of FedEx Express Brazil.
“FedEx and Rapidão Cometa share the similar core values of keeping our customers at the heart of all we do,” said Pereira. “I look forward to continuing to provide not only outstanding customer service with a wider range of domestic and international transportation and logistics solutions throughout Brazil, but also an excellent workplace environment for our team members.”
FedEx, which is also working to expand in Europe at the moment, expanded its Latin American operations within Mexico last year with the acquisition of domestic carrier Multipack.
The company now employs about 17,000 people in the Latin America and Caribbean region, servicing more than 50 countries and territories.
