DSV has acquired its Colombian agent, Airmar Cargo S.A., strengthening its position in South America.
No financial terms of the deal were disclosed.
Airmar was founded in 1997 in Bogotá and has been DSV’s exclusive agent in that market since 2009. The firm’s 60 employees and branches in Bogotá, Medellin, Cali and Cartagena will be added to DSV. In 2012, Airmar earned a gross turnover of $8 million.
DSV has continued to expand in South American and incorporated a subsidiary in Brazil in early 2012. This was followed by the acquisition of the full ownership of former joint venture companies in Chile, Peru and Argentina in November 2012.
The transaction must be approved by Colombian competition authorities. The deal is expected to close by Sept. 1.
DSV acquires Colombian agent
