FedEx Strengthens Position in Brazil with Acquisition of Rapidão Cometa
São Paulo, July 4, 2012, FedEx Corp. (NYSE: FDX) announced today that its FedEx Express business unit has completed the acquisition of Rapidão Cometa, one of the largest transportation and logistics companies in Brazil with revenues of over $500 million in 2011. This acquisition is the latest step in the company’s strategy for profitable growth in the Latin American and Caribbean (LAC) region.
“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, of Memphis-based FedEx Express. “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 of Rapidão Cometa further strengthens the FedEx Express network in Brazil, giving customers a one-stop-shop for both domestic and international transportation and logistics services. It also 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. Customers of Rapidão Cometa will, in turn, gain direct access to FedEx global services and the FedEx network, connecting them to more than 220 countries and territories around the world.
“We have enjoyed an 11-year relationship with Rapidão Cometa, and this acquisition further demonstrates our commitment to Brazilian customers and businesses,” said Juan Cento, regional president of FedEx Express LAC. “The integration of our companies will create a winning combination of global reach and national expertise, backed by a commitment to service excellence.”
One of the first steps in integrating the two companies is the naming of Américo Pereira Filho, current president of Rapidão Cometa, as a vice president of FedEx Express LAC and president of FedEx Express Brazil. To promote a seamless transition, the two companies will go through a complete integration process that is expected to last between 18 and 24 months.
“As FedEx and Rapidão Cometa share the similar core values of keeping our customers at the heart of all we do, I’m honored to be able to serve as president of the new, expanded FedEx Brazil,” said Américo Pereira Filho. “I look forward to continuing our commitment to provide not only outstanding customer service with a wider range of domestic and international transportation and logistics solutions throughout Brazil, but also an excellent workplace environment for our team members.”
Founded 70 years ago, Rapidão Cometa is one of the largest logistics solutions providers in Brazil. Based in Recife in the state of Pernambuco, the company offers a variety of high-quality integrated air and freight transportation and logistics solutions and has the capacity to reach more than 5,300 locations while serving all states of Brazil.
About FedEx Express Latin America & Caribbean
FedEx Express Latin America and Caribbean division services more than 50 countries and territories throughout the region and employs 17,000 people committed to total customer satisfaction. FedEx Express LAC has acted as a pillar of growth for the region and continues its commitment through the FedEx PyMEx program, the first initiative to partner with small and medium exporters by offering innovative ways to access the global marketplace.
About FedEx Express
FedEx Express is the world’s largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $43 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com. # # #