CEVA Logistics has announced that it has signed an agreement to acquire 100% of the shares of Cargex S.A., an international freight forwarding and perishable goods company based in Bogotá, Colombia. At the closing of the acquisition, CEVA would also take complete control of the Cargex customs brokerage affiliate, Agencias de Aduanas Aduanamos S.A. Nivel 2.
Cargex has more than 25 years of experience, with a primary focus in the export management of perishable goods. It has operations in Bogotá, Medellin, Cartagena, Buenaventura and Santa Marta. Over the years, Cargex and Aduanamos have become leaders in the handling of perishable products through its infrastructure, experience and relationships.
With this acquisition, CEVA Logistics will become a leading player in the perishables market in Colombia. Cargex General Manager, Pablo Torres, will join CEVA Logistics as director of perishables for Colombia and Ecuador.
CEVA Logistics is directly present in 10 countries in Latin America, where the company has nearly 10,000 employees across 40 locations. Already operating in Colombia and Ecuador, CEVA will maintain its current Colombian presence in Bogotá, Medellin, Cali, Buenaventura, Cartagena, Ipiales and Santa Marta, as well as its offices in Guayaquil and Quito in Ecuador.
CEVA expects the perishables market in Latin America to rise annually by 10% through 2024. Air freight will play a key role as the company expands in that growing perishables market, and the expanding CEVA SKYCAPACITY programme will play a critical role in connecting Latin America to international markets.
With a current product focus on fruits, vegetables, flowers, fish and other proteins, CEVA plans to be a strong perishables market player in the Latin American region through targets to grow more than 50% in all of its current country markets.
CEVA Logistics remains committed to a “think global, act local” growth strategy by adding the Cargex local know-how to CEVA’s leading global network. The addition of more than 150 Cargex and Aduanamos employees with leading freight forwarding, customs and perishable expertise further supports CEVA’s global end-to-end logistics capabilities.
CEVA continues to act as part of its global strategic growth plan, and the Cargex transaction strengthens the position of the company in Latin America, with a particular focus on the growing perishable market segment.
Mathieu Friedberg, Chief Executive Officer, CEVA Logistics, said, “With the addition of Cargex, CEVA Logistics continues its strategic push to capitalize on growing global and regional market segments. This acquisition is the perfect follow-on to our M&A activity in Africa over the past 12 months. With our global scale, we are able to see geographic and industry market segments primed for growth, and our experienced local teams are then able to seamlessly deliver the responsive logistics solutions that our customers have come to expect from us.”
Source: CEVA Logistics
