Kerry Logistics, a leading logistics service provider in Asia, announced the acquisition of a majority stake in Cargo Master’s Group (CMG), a Mexico-based logistics and freight forwarding company, with a domestic network of six offices throughout the country, including Guadalajara, Queretaro and Monterrey.
This is Kerry Logistics second major investment in Latin America this year following the acquisition of Braservice of Brazil in June.
Founded in 1994, CMG has grown into a leading provider of integrated supply chain and logistics solutions, focused on a client-first business culture in the Mexican and Latin American markets.
The integration of CMG provides Kerry Logistics with a good platform in a country of dynamic economic growth and strengthening trade ties with worldwide trading partners including China and other countries in Asia.
“This acquisition is part of our strategic objective to further develop our business and network in the dynamic Americas region,” said William Ma, Managing Director of Kerry Logistics Network.
Christian Ryser, Managing Director – Americas of Kerry Logistics added: “With this acquisition we set another significant milestone in our regional development. We are excited to be able to offer our Mexican customers, a range of integrated logistics and forwarding services, throughout the Kerry Logistics Asian and worldwide network.
Thomas Kroeger, General Director of CMG, said: “We are truly excited to be part of the Kerry Logistics global network. This integration will open-up new possibilities of growth and will enable us to further expand our market share in Mexico.”