We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » FedEx to buy long-time Brazilian partner
newsworthy

FedEx to buy long-time Brazilian partner

May 29, 2012
Mark B. Solomon
No Comments

FedEx Corp. said today it has agreed to buy the Brazilian logistics company Rapidão Cometa Logística e Transportes S.A. for an undisclosed sum. The proposed transaction will mark FedEx's third acquisition in two months of a smaller, in-country logistics firm that can be folded into the Memphis, Tenn.-based giant's far-flung global network.

Rapidão Cometa, which has been in business for 70 years, has served as one of FedEx's authorized representatives in Brazil for more than a decade. FedEx said the acquisition would provide customers of its FedEx Express air and international unit with greater access to the fast-growing Brazilian economy, one of the seven largest in the world.

The integration will occur in phases over the next 18 to 24 months, FedEx said.

The acquisition is the third announced by FedEx since rival UPS Inc. announced it would buy Dutch parcel and express giant TNT Express for $6.8 billion in cash and debt. Shortly after the deal was announced, Frederick W. Smith, FedEx's chairman, president, and CEO, effectively said the company would not make a counteroffer and that it could grow in Europe without the benefit of such a large-scale acquisition.

In May, FedEx announced it would acquire the French transport firm Tatex. The month prior, the company said it planned to close on its acquisition of Polish shipping firm Opek Sp. z o.o.

"The acquisition of Rapidão Cometa—one of the largest logistics solutions providers in Brazil—is in line with our long-term strategy to grow our Latin American business and better serve our customers seeking to enter or expand their businesses in the Brazilian market," said Juan N. Cento, president, FedEx Express, Latin America and Caribbean.

Headquartered in northeastern Brazil, Rapidão Cometa operates 45 branches in the country with a fleet of 770 tractor-trailers. It provides expedited ground transportation of small packages and heavy freight. It is also considered to be one of the most respected names in Brazilian logistics.

"It is a very impressive company," said Dale S. Rogers, professor, logistics and supply chain management at New Jersey's Rutgers University, and leader in sustainability and reverse logistics practices at Rio de Janeiro's Instituto de Logística e Supply Chain, or ILOS.

One of Rapidão Cometa's most visible accounts is with the credit card company Visa, according to Rogers. The logistics firm will field calls from merchants that are having trouble with their card-swiping equipment. After the company quickly dispatches a driver with a replacement machine, it will recover the defective equipment, repair it, and return it to stock for re-use.

Transportation Parcel & Postal Carriers Transportation 3PL
KEYWORDS FedEx
  • Related Articles

    UPS rattles FedEx's cage in Portuguese; appeals Brazilian OK of TNT Express buyout

    FedEx to buy French delivery firm Tatex

    FedEx continues Euro expansion with deal to buy Polish courier

Marksolomon
Mark Solomon joined DC VELOCITY as senior editor in August 2008, and was promoted to his current position on January 1, 2015. He has spent more than 30 years in the transportation, logistics and supply chain management fields as a journalist and public relations professional. From 1989 to 1994, he worked in Washington as a reporter for the Journal of Commerce, covering the aviation and trucking industries, the Department of Transportation, Congress and the U.S. Supreme Court. Prior to that, he worked for Traffic World for seven years in a similar role. From 1994 to 2008, Mr. Solomon ran Media-Based Solutions, a public relations firm based in Atlanta. He graduated in 1978 with a B.A. in journalism from The American University in Washington, D.C.

Recent Articles by Mark Solomon

Coming together for road safety: interview with Joshua Girard

Off the rails

Freight rate spikes shaking up the C-suite

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • RJW LOGISTICS GROUP EXPANDS RETAIL LOGISTICS OPERATION TO DALLAS

  • Maersk deploys indoor drones for warehouse inventory counts

  • Outlook 2023: What’s in store for logistics/supply chain?

Now Playing on DCV-TV

5afe63a5 7125 4318 b851 1e5738df1c91

Patterson Fan Co. | HVLS V-Series Ceiling Fan | Staging Area Air Movement

DCV-TV 4: Viewer Contributed
The Patterson V-Series is a high-volume, low-speed industrial ceiling fan that is designed to circulate a lot of air at a very low speed. These fans, ranging in diameters of 8’ all the way to 24’, are perfect for large, open spaces such as staging and shipping areas. One 24’ fan can generate a cooling effect of 6 –...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing