FedEx Corp. is acquiring Colombia-based freight forwarding company Cargex SA and its customs brokerage affiliate, Agencias de Aduanas Aduanamos SA Nivel 2.
The acquisition will strengthen FedEx's air freight forwarding and customs brokerage capabilities in Colombia and the broader Latin American region, the company said in a statement.
The acquisition is expected to close later this year, subject to customary closing conditions and a Colombian regulatory filing.
Cargex will operate as a subsidiary of FedEx Logistics once the deal is closed.
"The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us," said Udo Lange, COO and incoming president and CEO, FedEx Logistics.
