Copec acquires last-mile company Blue Express for $225mn
The Chilian energy company will leverage its network of stations to boost the existing business of the last-mile provider.
Chile's Empresas Copec has entered the last-mile delivery business by acquiring logistics firm Blue Express for about $225 million, the country's largest industrial group said on Monday.
Blue Express provides logistics services for e-commerce and courier services in Chile. The company provides logistics services for e-commerce and courier services through 1,000 distribution points in Chile.
This milestone represents an important step, given the increasing demand for convenience associated with e-commerce logistics, a business with a high growth potential. Copec’s network of service stations represents a competitive advantage in this market allowing for new delivery, pick-up and return points.
“The signing of this agreement is consistent with our purpose, which seeks to enhance the development and mobility of people, companies and the country, generating new solutions for each of our users in all the needs of their daily lives,” Arturo Natho, general manager of the subsidiary.
Copec has a network of 681 gas stations nationwide serving more than 1 million customers per day.
