CEVA Logistics to expand presence in Latin America through the acquisition of Cargex

posted on 2nd August 2021 by Eddie Saunders
CEVA Logistics to expand presence in Latin America through the acquisition of Cargex

As part of its development strategy, CEVA Logistics has announced that it has signed an agreement to acquire 100 percent of the shares of Cargex S.A., an international freight forwarding and perishable goods expert based in Bogotá, Colombia.

At closing of the acquisition, CEVA would also take complete control of the Cargex customs brokerage affiliate, Agencias de Aduanas Aduanamos S.A. Nivel 2.

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 percent through 2024.

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 percent in all of its current country markets.

Mathieu Friedberg, chief executive officer, CEVA Logistics, “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.”

Nadia Ribeiro, managing director for Latin America, CEVA Logistics, “Our strength in the perishables market continues to grow.

“Our position in Peru and Chile, and most recently in Brazil, reflects our successful strategy to create reliable local lines of business and lasting relationships with airline partners, as well as to leverage cross-selling opportunities in ocean freight in refrigerated containers.

“The local country teams are composed of industry experts with long-standing commercial relationships, enabling our customers to benefit from local expertise and a global network.”

Pablo Torres, general manager for Cargex S.A and Aduanamos S.A, “Angela Torres, Commercial Director and I have always believed that working toward meeting the customer’s needs and focusing on long-term relationships are the key drivers of our business.

“We are happy to announce the signing of this venture with CEVA Logistics as the next step to follow in order to give to our partners and friends an expanded logistics capability that will assure our personalized service, but with a worldwide, solid infrastructure that will have a positive impact to the operation of our partners and colleagues.”