LatAm List – China’s influence in Latin America is not just coming from the public sector; private companies are investing in and acquiring Latin American firms, as well. Most recently, Chilean logistics company, Patagon Logistics, closed a merger deal with Chinese shipping giant Sparx Logistics to begin operating under that brand in Chile.
Patagon Logistics was founded just four years ago with US$5M in seed capital and has registered rapid growth ever since. This growth pattern is what attracted Sparx to pursue a partnership and eventually a merger with the Chilean firm. Patagon Logistics currently projects 54% growth for 2018 as compared with 2017, processing over 10M containers and US$9M in sales.
“We will now be the Latin American headquarters of Sparx Logistics, which allows us to take on ambitious goals within the region as we are backed by the potential, the resources, the experience, and the team to continue differentiating ourselves. This merger allows us to transition from being a national company to becoming multinational, and we plan to open a Peruvian office in November, then open in other Latin American cities next year,” said Managing Director, Juan Manuel Rojas.
Patagon Logistics works with some of the biggest retailers in the country, and its 30-person team is made up to 80% women, including co-founder Érika Rubio.
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