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MANILA, Philippines – International Container Terminal Services Inc. (ICTSI) has acquired a Brazilian warehousing and logistics firm to expand beyond port operations in the South American country.
In a disclosure on Wednesday, the Enrique Razon Jr.-led port operator said its subsidiary, IRB Holding Ltda., acquired 100 percent of São Paulo-based Companhia Regional de Armazéns Gerais e Entreposto Aduaneira (Cragea).
READ: ICTSI invests $174M to boost Brazil port
According to its website, Cragea has operated in Brazil’s logistics sector for more than four decades and offers services including customs warehousing, as well as air-conditioned and refrigerated transport.
