FedEx recently announced new expansion plans for the Brazilian market. In an effort to secure its position in the South American logistics industry and increase its profitable growth, FedEx is going to acquire the freight forwarder, Rapidão Cometa Logistica e Transportes, S.A.
Having been founded about 70 years ago Rapidão Cometa is considered to be one of the largest freight forwardingand logistics solutions providers in Brazil today. The company has 17,000 clients, 9,000 team members and handles approximately 12,000 parcel deliveries per year.
With the help of Rapidão Cometa, FedEx hopes to expand its service portfolio in Brazil as well as to offer all of its international freight and courier services to its latest addition as soon as the purchase was complete.
“Brazil is a market with tremendous growth potential – both in the overall economy, as well as in the logistics sector. The acquisition of Rapidão Cometa – one of the largest logistics solutions providers in Brazil – is in line with our long-term strategy to grow our Latin American business and better service our customers seeking to enter or expand their businesses in the Brazilian market”, stated Juan N. Cento, president of FedEx Express Latin America and Caribbean.
Both companies have been doing business together since 2011. The acquisition of Rapidão Cometa will enable FedEx to offer a more extensive service range including air express & freight, domestic ground and supply chain services.
The transaction is scheduled to be completed in the third quarter of this year.