HONG KONG-based Kerry Logistics has acquired a majority stake in Braservice, a leading Brazil-based logistics and customs brokerage company,
Kerry Logistics gains majority stake Brazilian logistics firm, Braservice
HONG KONG-based Kerry Logistics has acquired a majority stake in Braservice, a leading Brazil-based logistics and customs brokerage company, with a domestic network of seventeen offices throughout the country, including Sao Paulo, Rio de Janeiro and Brasilia.
Founded in 1991, Braservice has developed into a leading provider of supply chain solutions focused on the Brazilian and Latin American markets, with a special focus on FMCG, automotive, fashion and lifestyle.
Kerry Logistics has been a major network partner of Braservice for seven years, and the acquisition provides the Hong Kong-based company with a platform to extend its reach into the fast growing Latin American markets.
"This acquisition is a significant step in the development of our strategic objectives to strengthen our capabilities in the Americas Region," said Kerry Logistics Network managing director William Ma, supporting trade between Asia and Latin America which grown significantly during the last five years.
Braservice president Vincenzo Carlo Grippo said: "We are thrilled to be joining the Kerry Logistics network, the company's extensive global network, unparalleled Asia coverage and exciting product offerings in supply chain solutions and value-added services allow us to better serve our customers in Brazil where demand for integrated solutions is high."