DHL acquires Uruguay’s Aero Cargas to expand Latin American freight operations
The transaction gives DHL Global Forwarding its first wholly owned operation in Uruguay after 33 years of working with the local company. The acquisition adds 44 employees and capabilities in pharmaceutical distribution, industrial projects and regional logistics. Financial terms were not disclosed.
DHL Global Forwarding has acquired 100% of Aero Cargas, bringing its longstanding Uruguayan partner into the German group’s own operating network as it seeks to expand freight services and specialised logistics across Latin America.
The transaction changes the ownership structure of an established business relationship. Aero Cargas had represented DHL Global Forwarding exclusively in Uruguay since 1993. The acquisition creates the division’s first direct operation in the country, where DHL already had a presence through its express delivery business.
Founded in 1968, Aero Cargas handles international air and ocean freight, land transport, industrial project cargo and multimodal shipments. Its services also include pharmaceutical logistics, free-trade-zone operations and the management of inventories for regional distribution.
The company’s 44 employees will join DHL Global Forwarding. Uruguay will become part of its Peru–Ecuador–Argentina–Chile cluster, known as PAC, led by Eduardo Rodrigues.
For DHL, the opportunity extends beyond serving Uruguay’s domestic import and export market. The group intends to strengthen the country’s role as a base for receiving, storing and redistributing goods to other Latin American destinations.
That model is particularly relevant to pharmaceuticals. According to Erik Meade, CEO of DHL Global Forwarding Latin America, Uruguay handles active ingredients and finished products arriving from Europe and North America, which can be repackaged and re-exported to markets including Brazil, Argentina, Chile and Colombia.
DHL estimates that pharmaceuticals worth the equivalent of more than €860 million move through Uruguay annually. This represents the value of products passing through the country, not revenue generated by Aero Cargas or DHL.
The group identified Uruguay’s location, connections to Atlantic shipping routes and free-port framework as factors supporting the acquisition. Aero Cargas also brings experience in operating within the country’s free trade zones, where international companies manage stock for distribution across several markets.
Healthcare logistics is a central part of the investment rationale. In April 2025, DHL announced a €2 billion global investment programme through 2030 to expand services for pharmaceutical, biotechnology and medical customers.
Meade said approximately 10% of that programme is expected to be invested in Latin America, equivalent to around €200 million. Establishing a direct operation in Montevideo would allow part of that investment to support regional healthcare customers.
The regional allocation is separate from the purchase price of Aero Cargas, which was not disclosed. It should not be interpreted as a €200 million investment commitment exclusively to Uruguay.
The broader healthcare programme includes temperature-controlled facilities, pharmaceutical distribution hubs, specialised transport and technology to track shipments. These capabilities address the handling requirements of medicines, clinical trial materials and other temperature-sensitive products.
The acquisition also expands DHL’s industrial project logistics business. The group identified data-centre development as another potential source of demand, involving the movement of heavy machinery, cooling systems and technology components.
Oscar de Bok, CEO of DHL Global Forwarding, linked the transaction to companies diversifying their supply chains and strengthening regional distribution networks. The group expects Aero Cargas’ local expertise and customer relationships to complement its international transport network.
For European companies supplying Latin America, the commercial relevance lies in the combination of international freight, regional inventory management and onward distribution. The acquisition gives DHL direct control of an existing Uruguayan operation serving that model.
The immediate organisational step is the integration of Aero Cargas and its workforce into the PAC structure. Further growth will depend on attracting additional freight and distribution business through Uruguay, including shipments whose final destination is elsewhere in the region.
