ICTSI acquires 100% stake in Brazil firm

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June 4, 2026 | 12:00am

MANILA, Philippines —  Logistics giant International Container Terminal Services Inc. (ICTSI), owned by tycoon Enrique Razon Jr., is expanding its operations in Brazil with the acquisition of a company that provides general and bonded warehousing and multimodal logistics services.

ICTSI, through its wholly owned subsidiary IRB Holding Ltd., has acquired a 100-percent interest in Companhia Regional de Armazéns Gerais e Entreposto Aduaneira (CRAGEA), a company based in São Paulo, Brazil.

ICTSI said the total consideration, which is less than 10 percent of its total consolidated shareholders’ equity as of Dec. 31, 2025 and March 31, 2026, was negotiated and would be paid in cash.

It said the usual conditions precedent to closing are applicable to the transaction.

“The transaction represents an expansion of ICTSI’s business activities in Brazil, offering differentiated and strategic solutions to increase operational and energy efficiency through the use of the rail as the preferred transport mode, mitigation of logistical bottlenecks, expanding the hinterland of its port assets, and offering safe and innovative alternatives for foreign trade customers,” the company said.

ICTSI is an independent global terminal operator with a portfolio of 33 terminals in 19 countries.

The company collaborates with governments to modernize port infrastructure and enhance operational performance.

Meanwhile, the company announced that its board of directors approved the change in designation of executive Christian Gonzalez to senior advisor, effective July 1.

His current designations include executive vice president, chief compliance officer and chief sustainability officer.

“Christian will focus on key areas that the company is giving the utmost priority to, which include global yield and operating expense management, business development initiatives, and IT transition,” Razon, chairman and president of ICTSI, said.

ICTSI said Gonzalez would also retain his positions on subsidiary company boards and as president of the ICTSI Foundation.

Caroline Causon will take over administrative functions as chief administrative officer, in addition to her duties as senior vice president, global corporate planning and financial services.