FedEx to Acquire Brazilian Logistics Company

FedEx Corp. said it has signed an agreement to acquire Brazilian transportation and logistics company Rapidão Cometa Logística e Transportes S.A. to boost its Latin American business.

The Brazilian company has 45 operational branches and 145 distribution points; about 770 vehicles and trailers; logistics and distribution consisting of a wide range of products and services; a ground distribution network that provides day-definite transportation for small packages and heavyweight shipments; and about 9,000 employees across the country. 

Financial terms of the deal were not released. FedEx said it expects the transaction to be complete in the third quarter of this year.

FedEx Express’ Latin America and Caribbean division services more than 50 countries and territories throughout the region and employs more than 8,000 people, the company said.’

FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.