We have acquired our exclusive agent in Colombia, Airmar Cargo S.A., strengthening our foothold in South America, says DSV.
Airmar Cargo S.A. is the leader in the sea freight forwarding export market from Colombia to the Central American and Caribbean countries. The company was founded in 1997 in Bogotá and have been DSV’s exclusive agent since 2009. 60 employees and 4 branches in Bogotá, Medellin, Cali and Cartagena will be added to our company. In 2012 Airmar Cargo A.S. achieved a gross turnover of 8 million USD.
"It makes perfect sense for DSV to be present in Colombia that has the third largest population in Latin America and the fourth largest economy in the region. We know Airmar Cargo and the quality of their services and are satisfied to bring their professional team on board the DSV group" says Jens Bjørn Andersen, CEO of DSV A/S.
This transaction marks another step in our expansion in Latin America following the incorporation of a fully-owned subsidiary in Brazil in early 2012. This was followed by the acquisition of the full ownership of our former Joint-Venture companies in Chile, Peru and Argentina in November 2012.
The transaction has been submitted to the Colombian competition authorities. It is expected to close around 1 September 2013. The parties have agreed not to disclose the transaction price.