News / Panalpina expands perishables footprint in Latin America with CargoMaster buy

© Ognjen Stevanovic

Undeterred by serious M&A activity with DSV, which began in January, Panalpina has agreed to acquire Colombia’s CargoMaster and its Ecuadorian subsidary, Laseair. 

The air freight flower and fruit specialists export to the US, Europe and Asia and claim to be among the largest of their Latin America peers.

The acquisition will boost Panalpina’s business in the region, making it, claimed chief executive Stefan Karlen, the “undisputed perishables market leader in Colombia and Latin America”. 

He added: “We are adding significant volumes and know-how to our ...