August 12 - Hong Kong headquartered logistics services provider Kerry Logistics has acquired a majority stake in Cargo Master's Group (CMG) - a Mexico based logistics and freight forwarding concern.
HLPFI reported in June that Kerry Logistics widened its Latin American network with the acquisition of Braservice in Brazil (http://tinyurl.com/l4dt62t).
Established in 1994, CMG now has a domestic network of six offices in cities including Guadalajara, Queretaro and Monterrey. "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.
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."