Ferreyros, a leading marketer of capital goods and services in Peru, and the official distributor of Caterpillar brand, announced today the upcoming acquisition of 100% of the shares of Gentrac Corporation, a family business that distributes Caterpillar in Guatemala, El Salvador and Belize since 1930, with a value of US$ 45 million.
"This is a historic decision for Ferreyros, because it is finally entering markets outside Peru. We are the Caterpillar distributor with the highest share worldwide, and this allow us to take this step safely," said Oscar Espinosa, Ferreyros’ Chief Executive.
"This operation will increase our sales by 20% or 30%,” said in turn Mariela Garcia, Ferreyros’ General Manager.
This acquisition will also allow Ferreyros to expand their logistical and customs operations on capital goods (via Fargoline) to Central America.
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