Ceva Logistics strengthens its presence in Colombia

Par ediallo - 28 August, 2021 - 06:39

By acquiring the Colombian forwarding agent Cargex, Ceva Logistics is strengthening its position in Colombia and more generally in Latin America. Behind this acquisition, the service provider wants to advance its position on the perishable goods market in this region.

After Egypt, the focus is on Colombia. At the end of July, Ceva Logistics announced the acquisition of 100% of the shares of Cargex S.A., an international forwarder specialized in perishable goods located in Bogotá, Colombia.

"Upon closing of the acquisition, we will also take full control of Cargex's customs brokerage subsidiary, Agencias de Aduanas Aduanamos S.A.," Ceva Logistics said in a press release.

Ambitious growth targets

Cargex and its subsidiary have 150 employees and are present in Bogotá, Medellin, Cartagena, Buenaventura and Santa Marta, Colombia. This acquisition allows Ceva Logistics to strengthen its position in Latin America, where it is already present in 10 countries and employs 10,000 people in 40 locations.

In addition to this geographic strengthening, the new addition should allow Ceva Logistics to boost its resources in the perishables segment. "We expect this market in Latin America to grow by 10% per year until 2024. (...)

With a current product focus on fruits, vegetables, flowers, fish and other proteins, we expect to be a major player in the perishables market there with growth targets of more than 50% in all of its current country markets," the provider argues.