Kerry Logistics has acquired a majority stake in Braservice, a Brazilian logistics and customs brokerage, to expand its services in the South American nation and strengthen ties with China and Asia.
Founded in 1991, Braservice focuses on the Brazilian and Latin American markets, specializing in fast-moving consumer goods, automotive, fashion and lifestyle industries. It has 17 offices in Brazil.
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 Latin American markets.
“This acquisition is a significant step in the development of our strategic objectives to strengthen our capabilities in the Americas region,” said William Ma, managing director of Kerry Logistics Network, in a written statement. “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.”