CEVA Logistics is signing an agreement to acquire 100 per cent of Cargex South America, an international freight forwarding and perishable goods expert based in Bogota, Colombia, reports ceva Logistics.
Cargex is an international freight forwarding and perishable goods expert, allowing CEVA logistics to become a leading perishable logistics provider in Colombia. The acquisition will advance CEVA Logistics' Latin American expansion strategy.
CEVA expects the perishables market in Latin America to rise annually 10 per cent through 2024 and the Latin American region to grow 50 per cent in all of its current country markets.
Cargoex has operations in Bogota, Medellin, Cartagena, Buenaventura and Santa Marta. CEVA Logistics is directly present in 10 countries in Latin America, where the company has nearly 10,000 employees across 40 locations.
'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 M&A 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,' said CEVA Logistics CEO Mathieu Friedberg.
Said CEVA Logistics Latin America managing director Nadia Ribeiro: '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.'
Said Cargex general manager Pablo Torres: 'Angela Torres, commercial director and I have always believed that working toward meeting the customer's needs and focusing on long-term relationships are the key drivers of our business.'
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Cargex is an international freight forwarding and perishable goods expert, allowing CEVA logistics to become a leading perishable logistics provider in Colombia. The acquisition will advance CEVA Logistics' Latin American expansion strategy.
CEVA expects the perishables market in Latin America to rise annually 10 per cent through 2024 and the Latin American region to grow 50 per cent in all of its current country markets.
Cargoex has operations in Bogota, Medellin, Cartagena, Buenaventura and Santa Marta. CEVA Logistics is directly present in 10 countries in Latin America, where the company has nearly 10,000 employees across 40 locations.
'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 M&A 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,' said CEVA Logistics CEO Mathieu Friedberg.
Said CEVA Logistics Latin America managing director Nadia Ribeiro: '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.'
Said Cargex general manager Pablo Torres: 'Angela Torres, commercial director and I have always believed that working toward meeting the customer's needs and focusing on long-term relationships are the key drivers of our business.'
SeaNews Turkey