Scan Global completes acquisition of Blu Logistics Brasil

 Scan Global Logistics (SGL) has completed the acquisition of Blu Logistics Brasil (Blu) after the approval of Brazilian competition authorities.

"The largest country in South America, Brazil is the world’s eighth-largest economy, holding immense potential for the global logistics provider. Blu Logistics was founded in 2013 and quickly established itself as a leading freight forwarder in Brazil, boasting impressive growth rates of 27 percent and 47 percent in the last two years," says an official release from Scan.

Headquartered in São Paulo, employing more than 200 people across eight offices, Blu generated revenue of BRL 570 million ($103 million) in 2023, the release added. As one of Brazil’s leading freight forwarders, with a second largest in ocean freight import, Blu offers complete air and ocean freight services including customs clearance, trucking and cabotage.

"Growing our presence in Latin America has been a priority for us for a while, and we are excited to add Brazil to our growing footprint through the acquisition of Blu," says Allan Melgaard, Global CEO, Scan Global Logistics. "The company’s operational platform will help pave the way for SGL to establish a strategic presence in Brazil and expand our global reach, benefiting our valued customers. Importantly, Blu brings comprehensive industry expertise and local insights and provides us with a strengthened network in Latin America. We are very confident that bringing Blu onboard will support scaling our business and strengthening our offerings to new and existing customers."

Gabriel Carvalho, CEO, Blu Logistics Brasil adds: "In SGL, we have found a match in our customer-centric and solution-driven approach, which will benefit our customers extensively. We will continue to provide the personalised service customers are used to but simultaneously increase our focus on expanding our market position in Brazil and growing additional trade lanes, particularly from Europe and North America."

Within the last few years, SGL has expanded its footprint in the Latin American region through a combination of new market entries, expansions and acquisitions, the release added. "Currently operating in Argentina, Colombia, Chile, Peru and Mexico, adding Brazil fortifies its presence in one of the world’s emerging regions with significant economic and developmental potential and a unique geographical position relative to the Americas, Asia-Pacific and Europe."

Jörn Schmersahl, CEO, Latin America, SGL says: "We are investing in building a strong Latin America region and presence. Besides a significant Intra-Latam trade, the region provides great opportunities for growth with North America due to existing free trade agreements but also has strong and growing links with Asia and Europe. By expanding our regional network and expertise, we offer improved opportunities to our customers with comprehensive transport solutions that fit their needs – within the region and beyond."

Scan Global reported a six percent decline in revenue at €1 billion for the first half of 2024 with operating profit of €28 million, down 48 percent.