FedEx Completes Brazilian Logistics Acquisition

Terms were not released about the deal, first announced by FedEx in May. Rapidão Cometa generates about $500 million per year in revenue. 

FedEx said the acquisition will extend its reach in Latin America and gives its FedEx Express unit access to a ground network of 45 branches, 770 vehicles and trailers.

FedEx earlier this year bought package delivery companies in France in Poland.

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