CargoMaster, with its subsidiary Laseair, is one of the largest companies in Latin America specialised in perishables exports by air. It was founded in 1987 and today employs 134 staff in Colombia (Bogota, Medellin), and 32 staff in Ecuador (Quito), through its subsidiary.
From Colombia and Ecuador, the two companies predominantly export to the US, but also to Europe and Asia. Consignments consist largely of flowers and fruit being shipped to the US.
An agreement was reached on April 23 that Panalpina will acquire both companies, subject to conditions.
“The acquisition will make us the undisputed perishables market leader in Colombia and Latin America and strengthen our position in Ecuador. We are adding significant volumes and know-how to our already impressive perishables footprint in Latin America, which will allow us to further deepen our well-established relationships with the airlines and producers in the region,” says Stefan Karlen, CEO of Panalpina.
“As we continue to expand the perishables business in this part of the world, we also see great development opportunities for our Charter Network with its gateway in Huntsville, Alabama.”
Felipe Sanchez, Founder, CEO and majority shareholder of CargoMaster also commented: “In the last 32 years, we have catapulted ourselves to the top of the Colombian air freight market and built a very strong brand in the region and our industry. I am very proud of these achievements and the employees that made it all possible.
“By going together with Panalpina with its strong heritage in Latin America, we have the opportunity to become part of an even bigger success story in the perishables industry.”