FedEx acquires Colombia-based freight forwarder and brokerage business

FedEx Corp. will acquire international freight forwarding company Cargex S.A. and its affiliate Agencias de Aduanas Aduanamos S.A. Nivel 2, expanding its business in Latin America, the company said today.

Based in Bogota, Colombia, Cargex also has operations in Medellin, Cartagena, Buenaventura, and Santa Marta and will operate as a subsidiary of FedEx Logistics, according to Memphis, Tenn.-based FedEx. The deal is expected to close later this year.

Cargex is a freight forwarder focused on export management of perishable goods; Agencias de Aduanas Aduanamos specializes in customs brokerage services. The deal strengthens FedEx's air freight forwarding and customers brokerage capabilities in Colombia and the broader Latin American region, FedEx said.