Though it is a relatively small acquisition financially, Exel calls its purchase of Chile’s domestic third party services company Bodenor S. A. strategic. Exel, which currently operates a free-standing aerosol storage facility in Santiago for S.C. Johnson, acquires two Bodenor shared-use facilities that serve 40 customers.
Bodenor, a domestic 3PL, provides a good fit, according to John Allan, chief executive of Exel, because as a smaller market, Chile represents a logistics challenge. Few companies have the sales volume needed to support a dedicated solution, he pointed out.
Exel expects the acquisition to help it expand business with companies operating in the “South Cone” region of Brazil, Argentina and Chile.
Exel said net assets acquired were less than $1 million.
