Allcargo acquires US based Econocaribe Consolidators

By: Megha Mandavia

Allcargo Logistics has acquired United States-based Econocaribe Consolidators Inc for about $50 million, to increase presence in the U.S.

Founded in 1968, Econocaribe is a non-vessel operating common carrier (nvocc) with 9 offices in the US and 22 receiving terminals in US and Canada.

The company also has presence in Latin America, Europe, the Carribbean, the Middle East, Africa and Asia. The buyout is through Allcargo's wholly-owned subsidiary Ecu Line.

Ecu Line was acquired by All Cargo in 2006. Econocaribe has been working with the Ecu Line as an agent. This buyout, says Allcargo, will help Ecu Line increase its service offering and coverage.