FedEx acquires Cargex, subsidiary to strengthen Latin American presence

August 30, 2019: Logistics giant FedEx has acquired Bogotá-headquartered Cargex S.A., an international freight forwarding company, and Agencias de Aduanas Aduanamos S.A. Nivel 2, an affiliate of Cargex specialising in customs brokerage services.

The acquisition, expected to close by end of this year, will boost FedEx's air freight forwarding and customs brokerage capabilities in Colombia and the broader Latin American region.

“The addition of Cargex offers future growth opportunities in the Latin American region, a key market for us. This acquisition perfectly complements the roundtrip Colombia-to-Miami flight recently announced by FedEx Express. We will connect customers throughout the Latin American market with even more possibilities by combining world-class FedEx transportation solutions with a comprehensive line of logistics service offerings. We look forward to welcoming our new team members into the FedEx family and will utilise their expertise to make this integration a success,” said Udo Lange, chief operating officer and incoming president and CEO, FedEx Logistics.

Cargex has over 25 years of experience with a focus in export management of perishable goods. It operates in Bogotá, Medellin, Cartagena, Buenaventura, and Santa Marta, and would operate as a subsidiary of FedEx Logistics upon closing.

Pablo Torres, general manager and Angela Torres, commercial manager, Cargex said, “With this acquisition, we will have access to an even larger global network, allowing us to help customers reach even more markets around the world.”