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FedEx buys Colombian freight forwarder, customs broker affiliate

· Thursday, August 29, 2019

FedEx Corp. (NYSE:FDX) said Aug. 29 that it acquired Cargex S.A., a Colombian air freight forwarder that specializes in perishables exports, and Agencias de Aduanas Aduanamos S.A. Nivel 2, a Cargex affiliate and a customs broker. Terms of the transaction were not disclosed.

The acquisition strengthens FedEx’s forwarding and brokerage capabilities in Colombia and across Latin America, the company said.

The deal is expected to close later this year, FedEx said.

Headquartered in Bogota, Cargex has operations in five Colombian cities. It will operate as a unit of FedEx Logistics.

Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.