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.