FedEx doubles down on LatAm forwarding market with Cargex acquisition

Yesterday, Memphis-based FedEx announced it reached an agreement to acquire Columbia-based freight forwarder Cargex and its customs brokerage affiliate, Agencias de Aduanas Aduanamos S.A. Nivel 2. Subject to customary regulatory approval, the deal is expected to close by yearend. 

The acquisition complements recent FedEx Express projects in Latin America and is intended to strengthen FedEx’s freight forwarding and customs brokerage capabilities in Columbia and broader Latin America. Last month, FedEx launched direct 767 freighter flights to Bogota (BOG) and Medellin (JMC) from Miami (MIA) in part, to capture perishables flows moving between Latin America and Miami.  

See also: Panalpina persists in perishables with purchase of CargoMaster, Laseair 

These services will be further supported by FedEx’ work to expand its facilities at Miami (MIA). 

“The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us,” said Udo Lange, chief operating officer and incoming president and CEO, FedEx Logistics.  

“The Cargex team looks forward to joining FedEx and combining our experience with theirs to expand business opportunities in the Latin American region,” said Pablo Torres, General Manager and Angela Torres, Commercial Manager, Cargex.