7/5/2012 10:00:00 AM
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FedEx Corp. said it completed its acquisition of Brazilian logistics firm Rapidão Cometa LogÃstica e Transportes S.A.
Terms were not released about the deal, first announced by FedEx in May. Rapidão Cometa generates about $500 million per year in revenue.
FedEx said the acquisition will extend its reach in Latin America and gives its FedEx Express unit access to a ground network of 45 branches, 770 vehicles and trailers.
FedEx earlier this year bought package delivery companies in France in Poland.
FedEx Corp. is ranked No. 2 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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