FedEx buys Brazilian transportation, logistics company

Associated Press, 05/29/2012

MEMPHIS, Tenn. (AP) – FedEx says it will expand in Latin America with its purchase of a Brazilian transportation and logistics company.

FedEx is buying Rapido Cometa Logstica e Transportes SA, one of the largest logistics companies in Brazil. Rapido has been its authorized representative in Brazil for 11 years.

With Rapido, FedEx (FDX) is getting about 770 vehicles and trailers, approximately 9,000 workers in Brazil and 45 branches.

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