The investment has facilitated new leadership appointments and a management restructuring, vital to executing the strategy. Former CEO and co-founder Marcelo Sada has taken a new strategic leadership role focusing on key growth initiatives within the plan.
Former COO and co-founder Raul Villarreal has been appointed CEO to protect the culture and operations that allow Source Logistics to deliver against industry-leading KPIs as the business experiences dramatic growth. Other leadership appointments include Emily Robertston joining as CFO and Carl Fowler as Senior VP of Sales.
Now, Source Logistics is focused on the next phase of its plan. This includes:
- Targeting three new locations, including Atlanta, Florida and Mid-Atlantic, and adding 20% capacity to Source Logistics’ existing footprint
- Delivering new transportation services, including freight consolidation and brokerage to enhance experiences for both Source Logistics' long-standing customers and new brands
- A proactive merger and acquisition (M&A) strategy
- Signing several strategic partnerships.
The strategy is supported by recent investment from Palladium Equity Partners as part of a broader USD 1.3 billion investment into the US Hispanic market. The capital enables Source Logistics and its customers to take advantage of the increasing US demand for Latin American food and beverage, CPG health, and beauty products.
"Source is ideally positioned to capitalize on favorable macro trends such as the decoupling from China, near-shoring to Mexico, and a rapidly expanding Hispanic population whose spending power currently accounts for USD 3.2 trillion in GDP,” says Carl Fowler, SVP of Sales at Source Logistics.
“We are optimized to help our customers meet the surging demand for consumer goods delivery from Latin America to the US through our renowned specialization and experience in the sector and our 12 strategically located facilities, already totaling more than 2.3 million square feet.”
Source Logistics boasts a customer retention rate of 93.8%, significantly higher than the industry average of 60%. This ensures business continuity and exceptional service in support of its customer base. The company prioritizes culture, customer experience, and trust to consistently meet and exceed key performance indicators and keep over 100 customers, both big and small, satisfied.
"The Electrolit brand is one of the fastest-growing beverage brands with double-digit annual growth rates," commented Daniel Dibos at CAB Enterprises. "Having been with Source Logistics for 10 years, we trust them to go above and beyond in fulfilling our logistics needs."
Regarding growing its brand presence in the US, Fedrico Devalis at ARCOR says: "The US Hispanic market is one of the most dynamic and rapidly growing segments. Partnering with Source Logistics has enabled us to confidently take advantage of this opportunity. Their expertise and strategic locations have been crucial in helping us expand our footprint and meet the demands of our consumers effectively."
As Source Logistics embarks on its expansion journey, it remains committed to maintaining the high standards of service that have earned the loyalty of its customers over the years. The company looks forward to leveraging Palladium's support to enhance its capabilities and drive growth in the evolving logistics landscape.
https://sourcelogistics.com/
