Kerry Logistics, a leading logistics service provider in Asia, announced the acquisition of a majority stake in Braservice, a leading Brazil-based logistics and customs brokerage company, with a domestic network of seventeen offices throughout the country, including Sao Paulo, Rio de Janeiro and Brasilia.
Founded in 1991, Braservice has developed into a leading provider of supply chain solutions focused on the Brazilian and Latin American markets, with a special focus on FMCG, automotive, fashion and lifestyle.
The acquisition of Braservice provides Kerry Logistics with a solid base in a country with dynamic economic growth and strengthening trade ties with China and the Asian region.
Kerry Logistics has been a major network partner of Braservice for seven years, and the acquisition provides the Hong Kong-based company with a platform to extend its reach into the fast growing Latin American markets.
“This acquisition is a significant step in the development of our strategic objectives to strengthen our capabilities in the Americas Region. Trade between Asia and Latin America has grown significantly during the last five years and now we have the platform to expand our network into this dynamic region,” said William Ma, Managing Director of Kerry Logistics Network.
“The strengths combining both organizations provides a global integrated logistics and forwarding solutions to our customers and opportunity of growth in one of the most strategic important markets in the Americas,” said Christian Ryser, Managing Director - Americas of Kerry Logistics.
Vincenzo Carlo Grippo, President of Braservice, added: “We are thrilled to be joining the Kerry Logistics network, the company’s extensive global network, unparalleled Asia coverage and exciting product offerings in supply chain solutions and value-added services allow us to better serve our customers in Brazil where demand for integrated solutions is high.”