Hellmann Worldwide Logistics announced Wednesday the full takeover of its joint venture in Peru to fully integrate the air freight specialist into its global network and expand service offerings for businesses in South America.
The move is part of Osnabrueck, Germany-based Hellmann’s growth strategy and follows the June acquisition of an overnight express delivery provider in the Czech Republic.
Hellmann bought out the remaining 50% of shares held by partner and board President Carlos Augusto Dammert. The two parties established the joint venture nearly 25 years ago.
Hellmann Worldwide Logistics S.A.C. is one of the largest air forwarders in Peru, with a focus on perishable goods such as fruits and seafood.
The German multinational said it plans to further expand the perishables business but also intends to strengthen the company’s market position in other areas, such as automotive logistics, and expand its customer portfolio beyond Peru.
Jose Luis Moreano will continue to run the Peru organization as general manager, with Dammert acting 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,” said CEO Reiner Heiken in a news release.
Hellmann, which offers air, ocean and truck brokerage as well as contract logistics services, increased sales by 61% to about 4 billion euros ($4.1 billion) in fiscal year 2021. The company has achieved three consecutive years of solid, profitable growth.
In addition to a 25% jump in shipment volume and much higher freight rates, sales were boosted by several acquisitions, including a previous joint venture with Rhenus.
Hellmann said it increased the size of its workforce by 16% to 12,348 employees by the end of the year.
In June, Hellmann acquired OptimNet Solutions, an overnight express provider in the Czech Republic and Slovakia. Hellmann has identified express delivery, and the Central and Eastern European markets, as areas for strategic expansion. Hellmann tapped into the Hungarian and Romanian markets with the acquisition of Innight last year. Adding OptimNet will enable expansion into overnight express delivery, especially for spare parts in the agricultural and automotive sectors.
OptimNet has 37 employees and three package depots. It consolidates shipments and places them with various carriers.