July 16 - Hong Kong based global logistics services provider Kerry Logistics has acquired a minority stake in Braservice - a Brazil based logistics and Customs brokerage firm.
Founded in 1991, Braservice offers supply chain solutions focused on the Brazilian and Latin American markets. It has a domestic network of 17 offices throughout Brazil, including Sao Paulo, Rio de Janeiro and Brasilia.
According to Kerry Logistics, the acquisition will give it a solid base in the country and strengthen trade ties with china and the Asian region.
Kerry Logistics has been a network partner of Braservice for seven years, and the acquisition will enable it to further extend its reach into the Latin American markets.
"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.