Hellmann Worldwide Logistics acquired all shares in its Peruvian joint venture, Hellmann Worldwide Logistics S.A.C.
In its announcement, the German freight forwarder said through the purchase of the remaining 50% of shares, which were held by Carlos Augusto Dammert (President of the Board), Hellmann became the sole shareholder of the JV.
Expansion in the Americas
"The acquisition allows the company to be fully integrated into Hellmann's global network, thus expanding the service portfolio for customers and generating further sustainable growth in Peru and the entire Americas region," Hellmann added.
Hellmann has been actively present in Peru since 1992 and established the joint venture together with Carlos Augusto Dammert in 1998.
The company has since become one of the largest airfreight export forwarders in the country, focusing mainly on perishable logistics.
While Hellmann will further expand its perishables business, it also intends to strengthen the company's market position in other business areas - such as automotive logistics - and expand its customer portfolio beyond Peru's borders.
Hellmann said Jose Luis Moreano will continue to shape the further development as general manager, together with Carlos Augusto Dammert, who will act in an advisory capacity.
"Peru is an important and growing market in South America. Based on our robust operational performance and our strong presence in the region, Hellmann is well positioned to grow the business and to further expand our market position," says Reiner Heiken, chief executive officer, Hellmann Worldwide Logistics.
Further acquisitions eyed
Andreas Lamping, chief legal officer and Head of M&A, Hellmann Worldwide Logistics, noted that the acquisition of future-oriented businesses is an integral part of Hellmann's global growth strategy.
"Going forward we will continue to look out for attractive targets which complement and strengthen our global Hellmann network," Lamping added.
Carlos Augusto Dammert for his part said after 30 years together as a team in Peru, it is time to fully integrate the company into the global Hellmann network to become an even stronger logistic company.
