FedEx Corp. (NYSE: FDX) announced today that its FedEx Express business unit has completed the acquisition of Rapidão Cometa, one of the largest transportation and logistics companies in Brazil with revenues of more than $500 million in 2011. This acquisition is the latest step in the company’s strategy for profitable growth in the Latin American and Caribbean (LAC) region.
“Brazil is the sixth-largest economy in the world and its rapidly increasing middle class presents tremendous opportunity for FedEx Express,” said Michael L. Ducker, chief operating officer and president, International, of Memphis-based FedEx Express. “Our customers are our top priority and this acquisition is a testament to our commitment to expand our global footprint in the markets that most need access to the global marketplace.”
The acquisition of Rapidão Cometa further strengthens the FedEx Express network in Brazil, giving customers a one-stop-shop for both domestic and international transportation and logistics services. It also bolsters the FedEx Express portfolio with direct access to nationwide domestic services within Brazil and a domestic ground network of 45 branches and approximately 145 distribution points, 770 vehicles and trailers, and 9,000 team members across the country. Customers of Rapidão Cometa will, in turn, gain direct access to FedEx global services and the FedEx network, connecting them to more than 220 countries and territories around the world.
“We have enjoyed an 11-year relationship with Rapidão Cometa, and this acquisition further demonstrates our commitment to Brazilian customers and businesses,” said Juan Cento, regional president of FedEx Express LAC. “The integration of our companies will create a winning combination of global reach and national expertise, backed by a commitment to service excellence.” One of the first steps in integrating the two companies is the naming of Américo Pereira Filho, current president of Rapidão Cometa, as a vice president of FedEx Express LAC and president of FedEx Express Brazil. To promote a seamless transition, the two companies will go through a complete integration process that is expected to last between 18 and 24 months.
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