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FedEx Corp. Announced its FedEx Express unit had acquired the Brazilian transportation and logistics operations of Rapidao Cometa.
The Brazilian company had revenues of more than $500 million in 2011.
"Brazil is the sixth-largest economy in the world and its rapidly increasing middle class presents tremendous opportunity for FedEx Express," said Michael L. Ducker, chief operating officer and president, International. "Our customers are our top priority and this acquisition is a testament to our commitment to expand our global footprint in the markets that most need access to the global marketplace."
The acquisition bolsters the FedEx Express portfolio with direct access to nationwide domestic services within Brazil and a domestic ground network of 45 branches and approximately 145 distribution points, 770 vehicles and trailers, and 9,000 team members across the country, according to FedEx.
"We have enjoyed an 11-year relationship with Rapidao Cometa, and this acquisition further demonstrates our commitment to Brazilian customers and businesses," said Juan Cento, regional president of FedEx Express LAC.
The company named Americo Pereira Filho, current president of Rapidao Cometa, as a vice president of FedEx Express LAC and president of FedEx Express Brazil.