Portuguese postal operator CTT Correios de Portugal has acquired Compañia Auxiliar al Cargo Express (CACESA), a Spanish company in the international e-commerce customs sector.
The €91m (US$95.5m) acquisition, carried out through the subsidiary CTT Expresso, is expected to be completed in March or April 2025.
João Bento, CEO of CTT, commented, “This acquisition is an important milestone in the transformation path that CTT has been doing to become a reference e-commerce logistics operator in the Iberian Peninsula. We are very pleased to integrate this company into our portfolio, as it is a natural step to strengthen the increasingly relevant role of CTT in all components of the e-commerce value chain, from shipping to return, strengthening commercial relationships with customers around the world.”
The transaction is part of CTT’s strong investment plan for the Iberian Peninsula to strengthen the value proposition for customers in Portugal and Spain.
The acquisition will support CTT’s transformation into an e-commerce logistics operator. At a time when online retail is increasingly cross-border, integrated customs clearance solutions play a crucial role in the growth strategy of this value chain.
CACESA operates an international e-commerce customs clearance platform and offered additional last-mile order distribution services. It is present in 15 countries, with Spain, Italy, Belgium and Poland being its main markets.