FedEx (FDX) to Buy Rapidão Cometa Logística e Transportes S.A.

May 29, 2012 8:03 AM EDT Send to a Friend
FedEx Corp. (NYSE: FDX) announced today that it has signed an agreement to acquire the Brazilian transportation and logistics company, Rapidão Cometa Logística e Transportes S.A., the latest step in FedEx’s strategy for profitable growth in Latin America. The acquisition will further enhance FedEx Express international and Brazil business offerings and continues a long-term commitment to the growing Latin American region.

This acquisition will afford FedEx Express’s customers access to Rapidão Cometa’s nationwide domestic transportation and logistics network. FedEx expects that the transaction, which is subject to customary closing conditions, will close in the third quarter of 2012. The acquisition of Rapidão Cometa, which has been one of FedEx’s authorized representatives in Brazil for the past 11 years, will supplement the FedEx Express service portfolio in Brazil and continue its Latin America expansion through key strategic investments.

After this transaction is completed, FedEx Express will be able to seamlessly offer all international services to Rapidão Cometa customers, who will have direct access to the FedEx international network connecting more than 220 countries and territories worldwide, enhancing customers’ business flexibility and speed to market. FedEx customers will have access to domestic package and freight services, logistics and distribution services.

Specifically, this acquisition will complement the FedEx portfolio offering and includes:
  • 45 operational branches and approximately 145 distribution points;
  • Approximately 770 vehicles and trailers;
  • Logistics and distribution, which consists of a wide range of products and services;
  • A ground distribution network that provides day-definite transportation for small packages and heavyweight shipments; and
  • Approximately 9,000 employees across Brazil.
The integration of the logistics, distribution and express businesses of Rapidão Cometa will be achieved in phases over a period of 18 to 24 months after closing and will result in an extensive and competitive FedEx network and portfolio throughout Brazil.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Mergers and Acquisitions

Add Your Comment