Brazil's JSL to acquire truck rental company Borgato
Brazilian logistics company JSL said it reached an agreement to acquire local truck rental company Borgato.
The value of the deal is estimated at 100mn reais (US$31.6mn) and payment will be in installments.
The Borgato group was founded in 1987 and is based Ribeirão Preto city. It rents and sells trucks and heavy machinery and equipment for the agricultural industry.
The Borgato companies have 18 outlets in the states of São Paulo, Goiás, Mato Grosso and Minas Gerais. In 2016, Borgato posted net revenue of 186mn reais.
"The purchase of Borgato is in line with JSL's growth strategy in the segment of rental and commercialization of heavy vehicles and machinery, complementing its current portfolio and contributing to the deleveraging of JSL," JSL said in a statement.
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