Logistics service provider Source Logistics has announced its new strategic growth plan to ‘support exploding US demand for Latin American food and beverage, CPG and health and beauty goods’, backed by significant investment.
The company is ‘focused on the next phase of its plan’, which includes: targeting three new locations, including Atlanta, Florida and Mid-Atlantic, and adding 20% capacity to Source Logistics’ existing footprint; delivering new transportation services, including freight consolidation and brokerage to enhance experiences for both Source Logistics’ long-standing customers and new brands; a proactive merger and acquisition strategy; and signing several strategic partnerships.
The strategy is supported by recent investment from Palladium Equity Partners as part of a broader US$1.3 billion investment into the US Hispanic market.
Carl Fowler, senior vice president of sales at Source Logistics, commented: “Source is ideally positioned to capitalise on favourable macro trends such as the decoupling from China, nearshoring to Mexico and a rapidly expanding Hispanic population whose spending power currently accounts for US$3.2 trillion in GDP.”
He added: “We are optimised to help our customers meet the surging demand for consumer goods delivery from Latin America to the US through our renowned specialisation and experience in the sector and our 12 strategically located facilities, already totalling more than 2.3 million square feet.”
Following the undeniable success of IntraLogisteX 2024 in the UK, the exhibition is heading across the Atlantic later in the year, with IntraLogisteX USA taking place on 22-23 October 2024 at Miami Beach Convention Centre.
Click here for more details and to register!
Plus, the Supply Chain Excellence Awards are also heading stateside as Miami welcomes the very first Supply Chain Excellence Awards USA on 21 October 2024.
For more information about the awards, categories and how to enter, click here!
