Tegma finalizes LTD buy

   Tegma Gestão Logística, a large logistics management provider in Brazil that focuses on transportation for the auto industry, has concluded its purchase of LTD Transportes LTDA’s operations.
   Tegma said it made the decision to acquire LTD because of its existing logistics operations in e-commerce and customer relationships.
   The business bought by Tegma consists of LTD’s distribution logistics segment, focusing on goods weighing more than 30 kg and/or high-cubage for the business-to-consumer segment. This service falls in line with Tegma’s strategy to grow its distribution operations through builds and buys.
   The acquisition of LTD’s operations will cost up to $16.98 million.
   According to Tegma announcement, LTD makes about 1.4 million deliveries each year from four locations with a total fleet of 260 vehicles. LTD had a gross revenue of R$43.8 million ($25.2 million) in 2011 and an estimated R$60 million ($34.5 million) for 2012.