Kangu boasts more than 60 million deliveries

Mercado Libre's Brazilian arm, Mercado Livre, has acquired São Paulo-based logistics company Kangu for an undisclosed sum.

With the transaction, Latin America's largest e-commerce and fintech player will incorporate all of Kangu's operations into its logistics network, including 5,000 delivery points spread over 700 cities in Brazil, Mexico and Colombia.

The move will expand the scope of Mercado Livre's delivery operations in Latin America.

According to the parties, Kangu will remain independent and will continue to be managed by its co-CEOs, Ricardo Araujo and Marcelo Guarnieri.

Kangu boasts more than 60 million deliveries through 3,000 points of presence in Brazil, Mexico and Colombia. Its network includes nine logistics marketplaces and five partner carriers.